Accounting MCQs with answers Page - 11

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A

Admin • 802.91K Points
Coach

Q. Which of the following is a real account?

  • (A) Rent A/c
  • (B) Salaries A/c
  • (C) Cash A/c
  • (D) Commission Received A/c

A

Admin • 802.91K Points
Coach

Q. When goods are purchased for cash, which account is credited?

  • (A) Cash A/c
  • (B) Sales A/c
  • (C) Purchases A/c
  • (D) Capital A/c

A

Admin • 802.91K Points
Coach

Q. Which of the following accounts is a nominal account?

  • (A) Capital A/c
  • (B) Furniture A/c
  • (C) Rent A/c
  • (D) Debtors A/c

A

Admin • 802.91K Points
Coach

Q. Which of the following is a non-operating expense?

  • (A) Wages
  • (B) Salaries
  • (C) Rent
  • (D) Loss on sale of asset

A

Admin • 802.91K Points
Coach

Q. A journal entry affects how many accounts?

  • (A) One
  • (B) Two or more
  • (C) Only three
  • (D) Unlimited but not less than four

A

Admin • 802.91K Points
Coach

Q. If goods worth ₹5,000 are taken by the proprietor for personal use, the journal entry is:

  • (A) Drawings A/c Dr. ₹5,000 To Purchases A/c ₹5,000
  • (B) Capital A/c Dr. ₹5,000 To Cash A/c ₹5,000
  • (C) Purchases A/c Dr. ₹5,000 To Drawings A/c ₹5,000
  • (D) Cash A/c Dr. ₹5,000 To Drawings A/c ₹5,000

A

Admin • 802.91K Points
Coach

Q. Which account is not affected by the accrual of an unpaid expense?

  • (A) Expense A/c
  • (B) Outstanding Expense A/c
  • (C) Cash A/c
  • (D) Profit and Loss A/c

A

Admin • 802.91K Points
Coach

Q. The main book of accounts is:

  • (A) Journal
  • (B) Ledger
  • (C) Trial Balance
  • (D) Cash Book

A

Admin • 802.91K Points
Coach

Q. Which concept prohibits recording of owner’s personal assets in business books?

  • (A) Going Concern
  • (B) Business Entity
  • (C) Money Measurement
  • (D) Matching

A

Admin • 802.91K Points
Coach

Q. Which of the following errors will affect the agreement of a trial balance?

  • (A) Error of principle
  • (B) Error of omission
  • (C) Posting only one side of the transaction
  • (D) Error of commission with same amount

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