Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
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
Cash discount is provided on _______________?
A: Purchases
B: Prompt payment
C: Sales
D: Sales return
Prompt payment
Goods return to supplier are known as:__________?
A: Merchandise return
B: Purchase return
C: Return inwards
D: Sales return
Purchase return
The excess of current assets over current liabilities is called:
A: Working Capital
B: Circulating capital
C: Fixed capital
D: Trading capital
Working Capital
When goods, in which business deals are sold, it is called___________?
A: Purchases
B: Return inward
C: Sales
D: Return outwards
Sales
Sales return is also known as____________?
A: Return received
B: Return Payed
C: Return inward
D: Return outward (more¦)
Return inward
Cash brought by the owner to start business is called__________?
A: Capital
B: Loan
C: Drawing
D: None of these
Capital
The concession received on the price of defective goods is called:
A: Discount
B: Cash discount
C: Allowance
D: Trading discount
Allowance
In support of business transaction, any written evidence is called ___________?
A: Discount
B: Voucher
C: Allowance
D: Price
Voucher