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 book records:______________?
A: Cash payments
B: Cash receipts
C: Cash payments and cash receipts
D: Neither cash payments nor cash receipts
Cash payments and cash receipts
Cash book is prepared by____________?
A: Bank
B: Accountant of business
C: Manager of a company
D: Banks cashier
Accountant of business
Discount received is recorded on which of the following side of a cash book?
A: Receipts
B: Payments
C: Incomes
D: Expenditures
Payments
The closing balance of petty cash book is considered as_________?
A: Liability
B: Asset
C: Expenses
D: Income
Asset
A credit balance in cash book indicates?
A: Bank balance
B: Cash at bank
C: Bank overdraft
D: Bank underdraft
Bank overdraft
Petty cash fund is supposed to be replenished?
A: Every day
B: Every half year
C: Every year
D: At the end of every accounting period
At the end of every accounting period
Postdated checks are considered as__________?
A: Cash
B: Bank balance
C: Accounts receivable
D: Cash reserve
Accounts receivable
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