Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
A simple or one column cash book usually has which of the following main columns?
A: Bank
B: Payments
C: Discount
D: Cash
Cash
Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?
A: Receipts
B: Payments
C: Incomes
D: Expenditures
Payments
Postage stamps on hand are considered as_________?
A: Bank
B: Prepaid expenses
C: Accounts receivable
D: Creditor
Prepaid expenses
Which of the following is generally not the party to a check?
A: Payee
B: Payer
C: Bank
D: Seller
Seller
Cash book with cash and discount column is mostly referred as________?
A: Simple cash book
B: Two column cash book
C: Three column cash book
D: Petty cash book
Two column cash book
Which of the following error results in unadjusted cash book balance?
A: Outstanding checks
B: Unpresented checks
C: Deposit in transit
D: Omission of Bank charges
Outstanding checks
_________ Checks that are presented to bank but not yet credited by the bank.
A: Unpresented checks
B: Uncredited checks
C: Outstanding checks
D: Bounced checks
Uncredited checks
Favorable balance of bank statement implies that
A: Credit balance
B: Debit balance
C: Bank overdraft
D: Adjusted balance
Credit balance
Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
A: $2,000
B: Zero
C: $3,000
D: $2,500
$2,000