Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Goods sent on approval basis have been recorded as Credit sales. This is an example of____________?
A: Error of principle
B: Error of commission
C: Error of omission
D: Error of duplication
Error of principle
Institute of Chartered Accountants of Pakistan was established in____________?
A: 1949
B: 1956
C: 1961
D: 1972
1961
When owner withdraw cash for its private use, it is called ___________?
A: Profit
B: Income
C: Expense
D: Drawing
Drawing
Assets having physical existence are called ___________?
A: Current asset
B: intangible asset
C: Tangible asset
D: Liquid asset
Tangible asset
The assets which have some market value are called ____________?
A: Fixed asset
B: Quick asset
C: Fictitious assets
D: Real assets
Real assets
The assets which come into existence upon the happening of a certain event are called__________?
A: Contingent assets
B: Fixed assets
C: Fictitious assets
D: Quick assets
Contingent assets
Income earned but not received is called ____________?
A: Fictitious assets
B: Quick asset
C: Real asset
D: Outstanding asset
Outstanding asset