Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Financial accounting provides financial information to all of the following external users except:
A: Government agencies
B: investors
C: Creditors
D: Managers
Managers
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 received from debtor is recorded in which of the following SPECIALIZED journals?
A: Purchase journal
B: Sales journal
C: Cash receipts
D: Cash payments journal
Cash receipts
Which of the following is a type of cash receipt journal + cash payment journal?
A: Bank statement
B: Statement of cash flow
C: Cash book
D: Cash documents
Cash 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