Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Closing stock appearing in the Trial Balance is shown in:
A: Trading A/c and Balance Sheet
B: Profit and Loss A/c
C: Balance Sheet only
D: Trading A/c only
Balance Sheet only
Depreciation Account appearing in the Trial Balance is shown in:
A: Profit and Loss A/c
B: Trading A/c
C: Deducted from the concerned assets A/c
D: Shown on the liability side
Profit and Loss A/c
Profit on sale of old plant is:___________?
A: In Trading A/c
B: In Profit and Loss Appropriation A/c
C: Profit and Loss A/c
D: Being a non operating item ignored
Profit and Loss A/c
Carriage on goods purchased is shown in:___________?
A: Profit and Loss A/c
B: Capitalized with work in progress
C: Trading A/c
D: Shown in Balance Sheet
Trading A/c
Which of these is not an operating income?
A: Income from sale of trading goods
B: Bad debts recovered
C: Interest on FDs
D: None
Interest on FDs
Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.
A: 2,40,000
B: 2,10,000
C: 2,00,000
D: 1,80,000
2,40,000
From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission @ 11% after charging such commission.
A: 6441
B: 5431
C: 7654
D: 9876
6441
From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission 11% before charging such commission
A: 6441
B: 5431
C: 7150
D: 5876
7150
Arrangement of Balance Sheet in a logical order is known as __________?
A: Dressing Balance Sheet
B: Marshalling Balance Sheet
C: Formatting Balance Sheet
D: Make up of Balance Sheet
Marshalling Balance Sheet
Find the value of opening stock from the following data. Purchases 1,50,000, Closing stock 30,000 Sales 2,20,000, Gross profit 40,000.
A: 50,000
B: 55,000
C: 60,000
D: 65,000
60,000