Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Office equipments account is classified as _________ account?
A: Nominal
B: Real
C: Cash
D: Capital
Real
Which of the following is known as the base for preparing trial balance?
A: Journal
B: Cash account
C: Ledger account
D: Balance sheet
Ledger account
If debit balance is greater than creadit balance then the account blance will be__________?
A: Credit balance
B: Debit and credit balance
C: Cash balance
D: Debit balance
Debit balance
The normal balance of capital account is_____________?
A: Credit balance
B: Debit balance
C: Cash balance
D: Neither debit nor credit balance
Credit balance
The normal balance of asset account is____________?
A: Credit balance
B: Debit balance
C: Cash balance
D: Neither debit nor credit balance
Debit balance
The normal balance of liability account is____________?
A: Debit balance
B: Credit balance
C: Cash balance
D: Neither debit nor credit balance
Credit balance
Which of the following statements is incorrect regarding capital account?
A: Debit increases the capital account balance
B: Credit increases the capital account balance
C: Fresh capital increases the capital account balance
D: Net income increases the capital account balance
Debit increases the capital account balance
Transferring entries from journal to ledger account is commonly known as____________?
A: Recording
B: Transferring
C: Posting
D: Entry making
Posting
An account records the ___________ in the balance of an item?
A: Increase
B: Decrease
C: Increase or decrease
D: Appreciation
Increase or decrease
If credit side of a bank account is greater than the debit side, it indicates which of the following?
A: Bank overdraft
B: Cash at bank
C: Bank balance
D: Current Asset
Bank overdraft