Accounting MCQs with answers Page - 24

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. Which account is not shown in the balance sheet?

  • (A) Capital A/c
  • (B) Cash A/c
  • (C) Wages A/c
  • (D) Sundry Debtors A/c

A

Admin • 802.91K Points
Coach

Q. Purchase of goods for cash is recorded in:

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

A

Admin • 802.91K Points
Coach

Q. Which principle states that expenses should be matched with revenues?

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

A

Admin • 802.91K Points
Coach

Q. Which account is credited when commission is received?

  • (A) Commission A/c
  • (B) Cash A/c
  • (C) Capital A/c
  • (D) Drawings A/c

A

Admin • 802.91K Points
Coach

Q. What type of account is 'Rent Received'?

  • (A) Real Account
  • (B) Personal Account
  • (C) Nominal Account
  • (D) Fictitious Account

A

Admin • 802.91K Points
Coach

Q. The balance of petty cash book is always:

  • (A) Credit
  • (B) Debit
  • (C) Zero
  • (D) Negative

A

Admin • 802.91K Points
Coach

Q. Revenue is generally recognized at the point of:

  • (A) Cash receipt
  • (B) Order placement
  • (C) Goods delivery or services rendered
  • (D) Invoicing

A

Admin • 802.91K Points
Coach

Q. Which of the following is not a source document?

  • (A) Invoice
  • (B) Debit Note
  • (C) Cash Memo
  • (D) Trial Balance

A

Admin • 802.91K Points
Coach

Q. In accounting, 'goods' refer to:

  • (A) Assets purchased for use
  • (B) Items bought for resale
  • (C) Fixed assets
  • (D) All inventory

A

Admin • 802.91K Points
Coach

Q. Which side of the cash book is discount allowed recorded?

  • (A) Debit Side
  • (B) Credit Side
  • (C) Right Side
  • (D) Separate Column

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