Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Cash brought by the owner to start business is called__________?
A: Capital
B: Loan
C: Drawing
D: None of these
Capital
An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?
A: Accounting
B: Accountancy
C: Auditing
D: Book Keeping
Accounting
The maintenance of accounts in a systematic way is called__________?
A: Accounting
B: Reading
C: Book Keeping
D: Auditing
Book Keeping
Goods Return by the customer are termed as :
A: Purchase return
B: Customer return
C: Sales return
D: Inventory return
Sales return
Modern system of book keeping is called______________?
A: Double entry system
B: American system
C: Single entry system
D: Italic system
Double entry system
The person to whom goods are sold on credit is called___________?
A: Buyer
B: Seller
C: Debtor
D: Creditor
Debtor
Double entry means______________?
A: Entry in two sets of books
B: Entry at two ends
C: Entry at two dates
D: Entry for two aspects of the transaction
Entry for two aspects of the transaction
Obligation of the Business are known as___________?
A: Liabilities
B: Revenues
C: Expenses
D: Assets
Liabilities
The amount invested by the proprietor to start the business is called:
A: Capital
B: Business
C: Drawings
D: All of them
Capital