Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
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
___________ helps business to classify transactions according to their nature?
A: General journal
B: Real accounts
C: Ledger accounts
D: Cash accounts
Ledger accounts
Which of the following is a real account?
A: Office equipment
B: Rent expenses
C: Rent income
D: Insurance expense
Office equipment
Which of the following accounts are closed at the end of an accounting period?
A: Nominal accounts
B: Balance sheet accounts
C: Real accounts
D: None of them
Nominal accounts
Which of the following is the closing balance of a ledger account?
A: Balance c/d
B: Balance b/d
C: Balance e/d
D: Balance f/c
Balance c/d
The Basic accounting equation is___________?
A: Asset=Expense +Income
B: Assets=Cash+Capital
C: Assets=Capital+Liabilities
D: Assets=Expenses+Capital
Assets=Capital+Liabilities
Which of the following is the normal balance of a rent expense account?
A: Credit balance
B: Cash balance
C: Overdraft
D: Debit balance
Debit balance
Revenue and expense accounts are referred as______________?
A: Nominal accounts
B: Real account
C: Cash accounts
D: Banks account
Nominal accounts
The real accounts are accounts of Assets, liabilities and ___________?
A: Expenses
B: Revenues
C: Capital
D: Drawing
Capital