Accounting MCQs

A. Drawings
B. Cash
C. Business
D. Stock

A. Book of entries
B. Book of original entries
C. T account
D. Books of economic event

A. Assets column
B. Date column
C. Description column
D. Amount column

A. Alphabetical order
B. Numeric order
C. Bullets order
D. Chronological order

A. Capital account
B. Fixed assets account
C. Building account
D. Cash account

A. Trade discount
B. Prompt payment discount
C. Cash discount
D. Bulk discount

A. Recording the transaction
B. Identifying the transaction
C. Posting the transaction
D. Preparing the source documents

A. Assets accounts
B. Liability accounts
C. Cash accounts
D. Revenue accounts

A. Masood’s account
B. Cash account
C. Cash account and gagan’s account
D. None of these

A. They must be followed by reversing entries
B. They transfer the balances in all of the nominal accounts to the trading and profit and loss account
C. They must be made after the reversing entries but before the adjusting entries
D. They must be made after the adjusting entries but before the reversing entries