Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
A: 2,10
B: 10,2
C: 10,30
D: 3,15
2,10
Goods returned by customer should be debited to which of the following accounts?
A: Sales income account
B: Sales account
C: Return inward account
D: Expenses account
Return inward account
Cash received for services rendered will______________?
A: Increase cash and liability
B: Increase equity and liability
C: Increase fixed assets and cash
D: Increase cash and equity
Increase cash and equity
Which of following best describes the increase in equity expands___________?
A: Business operations
B: cash outflows
C: Inflows of cash
D: Appropriation expenses
Business operations
If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
A: $5,000
B: $10,000
C: $15,000
D: $20,000
$5,000
An increase in provision for bad debt will____________?
A: Decrease net income
B: Decrease liabilities
C: Increase net income
D: Increase liabilities
Decrease net income
Current assets “ Current liabilities=?
A: Capital
B: Absorbed capital
C: Net assets
D: Net working capital
Net working capital
The process of recording is done?
A: Two times a year
B: once a year
C: Frequently during the accounting period
D: At the end of a accounting period
Frequently during the accounting period