Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
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
Which of the following is the practical implementation of the accounting equation?
A: Cash flow statement
B: Income statement
C: Statement of changes in equity
D: Statement of financial position
Statement of financial position
Which of the following accounting equation is correct?
A: Cash+Other assets=Capital-Liabilities
B: Capital+ Liabilities=Assets+Income
C: Assets-Liabilities=Capital
D: Assets+Capital=Liabilities
Assets-Liabilities=Capital
Find out the value of assets if: Liabilities=$5000 and Capital=$1000
A: $4,000
B: $6,000
C: $7,000
D: $3,000
$6,000
Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
A: $6,000
B: $10,000
C: $5,000
D: $1,000
$5,000
Capital increases if _________ increases?
A: Expenses
B: Drawings
C: Interest on capital
D: Revenue
Revenue
Capital of a business decreases if there is an increase in___________?
A: Drawings
B: Income
C: Gains
D: Fresh capital
Drawings
If the businesss owner withdraws cash for his/her personal use what will be the effect on capital?
A: Increase in capital
B: Remain the same
C: Decrease in capital
D: No effect on capital
Decrease in capital
Net income equal to Revenues minus____________?
A: Gains
B: Depreciation
C: Expenses
D: Capital expenditures
Expenses