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 is the normal balance of a rent expense account?
A: Credit balance
B: Cash balance
C: Overdraft
D: Debit balance
Debit balance
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
Net loss occurs when______________?
A: Expenses are greater than Income
B: Expenses are less than Income
C: Expenses=Income
D: Liabilities are greater than income
Expenses are greater than Income
Double entry implies that
A: Recording entries in journal
B: Recording entries in Ledger account
C: Recording two aspects of every transaction
D: Recording every transaction in books
Recording two aspects of every transaction
Identify the nominal account
A: Machinery account
B: Building account
C: Creditors account
D: Rent expenses account
Rent expenses account