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 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
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
_________ will be credited if goods are given as charity?
A: Cash
B: Charity
C: Purchases
D: Sales
Purchases
What is equity?
A: Cash from the business
B: liability of a business
C: Owners claim on total assets
D: Owners claim on total liabilities
Owner™s claim on total assets