Accounting MCQs with answers Page - 23

Here, you will find a collection of MCQ questions on Accounting. Go through these questions to enhance your preparation for upcoming examinations and interviews.

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A

Admin • 802.91K Points
Coach

Q. Provision for bad debts is created as per which accounting concept?

  • (A) Consistency
  • (B) Conservatism
  • (C) Matching
  • (D) Accrual

A

Admin • 802.91K Points
Coach

Q. Sales return is recorded in:

  • (A) Purchase Return Book
  • (B) Sales Return Book
  • (C) Sales Book
  • (D) Journal Proper

A

Admin • 802.91K Points
Coach

Q. Rent outstanding is shown under:

  • (A) Assets
  • (B) Liabilities
  • (C) Reserves
  • (D) Income

A

Admin • 802.91K Points
Coach

Q. Goods sent on approval basis should be shown as:

  • (A) Sales
  • (B) Closing stock
  • (C) Debtors
  • (D) Advance income

A

Admin • 802.91K Points
Coach

Q. The balance of which account is never transferred to the profit and loss account?

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

A

Admin • 802.91K Points
Coach

Q. When a machine is sold, the account credited is:

  • (A) Machine A/c
  • (B) Sales A/c
  • (C) Cash A/c
  • (D) Bank A/c

A

Admin • 802.91K Points
Coach

Q. Goodwill arises due to:

  • (A) Tangible asset acquisition
  • (B) Credit purchases
  • (C) Reputation of the business
  • (D) Issuance of shares

A

Admin • 802.91K Points
Coach

Q. An amount received from debtor is recorded in:

  • (A) Sales Book
  • (B) Cash Book
  • (C) Purchase Book
  • (D) Journal Proper

A

Admin • 802.91K Points
Coach

Q. If rent is paid for the next year, it is called:

  • (A) Accrued Rent
  • (B) Prepaid Rent
  • (C) Outstanding Rent
  • (D) Deferred Rent

A

Admin • 802.91K Points
Coach

Q. Which of these is not part of accounting?

  • (A) Recording
  • (B) Classifying
  • (C) Budgeting
  • (D) Summarizing

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