Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Keeping the log of financial information in books of original entries is called__________?
A: Recording
B: summarizing
C: Grouping
D: Processing
Recording
Specialized journals are more adequate for which TYPE OF BUSINESSES?
A: Small businesses
B: Big businesses
C: Sole proprietorship
D: Partnership
Big businesses
Which of the following is known as an evidence that a transaction took place?
A: Cash receipts journal
B: General journal
C: Source document
D: Cash book
Source document
BUSINESS paid rent amounting to $100³ which of the following specialized journals records this transaction?
A: Cash receipts journal
B: Cash payments journal
C: Sales journal
D: Purchase journal
Cash payments journal
Credit memo or credit note No. is entered in which of the following journal?
A: General journal
B: Cash journal
C: Purchase journal
D: Sales return day book
Sales return day book
Cash purchases is recorded in which of the following specialized journals?
A: Purchase journal
B: Sales journal
C: Purchases return journal
D: Cash payments journal
Cash payments journal
A brief explanation recorded below every entry in general journal is commonly known as__________?
A: Narration
B: Explanation
C: Summary
D: Other information
Narration
Credit purchase of plant and machinery is recorded in which of the following journals?
A: General journal
B: Cash journal
C: Purchase journal
D: Purchase return journal
General journal
Debit note is the basis for recording a transaction in which of the following journals?
A: General journal
B: Cash journal
C: Purchase journal
D: Purchase return journal Read More Details about this Mcq
Purchase return journal
SALE of old furniture will be recorded in which of the following specialised journals?
A: Purchase journal
B: Sales journal
C: General journal
D: Cash receipt journal
General journal