Accounting MCQs

1590 MCQs  (Page 15 of 159)

Attempt Accounting MCQs Quiz
The process of recording transactions in different journals is called_________?
A. Posting
B. Entry making
C. Adjusting
D. Journalizing
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Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite
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Discount allowed is a kind of deduction from_____________?
A. Account payable
B. Account receivable
C. Cash account
D. Discount account
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The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash book
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A journal entry in which two or more account is debited or credited is referred as____________?
A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entry
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he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
A. 2,10
B. 10,2
C. 10,30
D. 3,15
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Goods returned by customer should be debited to which of the following accounts?
A. Sales income account
B. Sales account
C. Return inward account
D. Expenses account
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Discount allowed is___________?
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business
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_________ is the evidence that a transaction took place?
A. Source documents
B. Ledger
C. Bonds
D. Journals
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Which of the following will be debited if a business purchases goods on credit?
A. Cash
B. Debtor
C. Creditor
D. Purchases
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Word of the Day
11 Jul
Envisage
contemplate or conceive of as a possibility or a desirable future event.
گمان کرنا، تصور کرنا، سوچنا

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