Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
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
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