Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
If debit side of a bank account is greater than credit side it indicates which of the following?
A: Cash at bank
B: Bank understatement
C: Bank overdraft
D: Balance overstatement
Cash at bank
_________ 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
Identify the asset from the following:
A: Cash and cash equivalent
B: Creditors
C: Notes payable
D: Bank loan
Cash and cash equivalent
_______ the withdrawal of cash and goods by the owner of the busienss for his/her personal use?
A: Depreciation
B: Drawings
C: Outflow of cash
D: Appreciation
Drawings
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
Which of the following accounts can be classified as a real account?
A: Rent expenses account
B: Rent income account
C: insurance expenses account
D: Cash account
Cash account