Accounting MCQs

1590 MCQs  (Page 2 of 159)

Attempt Accounting MCQs Quiz
Modern system of book keeping is called______________?
A. Double entry system
B. American system
C. Single entry system
D. Italic system
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The person to whom goods are sold on credit is called___________?
A. Buyer
B. Seller
C. Debtor
D. Creditor
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Double entry means______________?
A. Entry in two sets of books
B. Entry at two ends
C. Entry at two dates
D. Entry for two aspects of the transaction
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Discount received is a/an:
A. Asset
B. Expense
C. Liability
D. Revenue
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Obligation of the Business are known as___________?
A. Liabilities
B. Revenues
C. Expenses
D. Assets
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The amount invested by the proprietor to start the business is called:
A. Capital
B. Business
C. Drawings
D. All of them
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Cash discount is provided on _______________?
A. Purchases
B. Prompt payment
C. Sales
D. Sales return
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The excess of current assets over current liabilities is called:
A. Working capital
B. Circulating capital
C. Fixed capital
D. Trading capital
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When goods, in which business deals are sold, it is called___________?
A. Purchases
B. Return inward
C. Sales
D. Return outwards
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Sales return is also known as____________?
A. Return received
B. Return payed
C. Return inward
D. Return outward
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Word of the Day
10 Jul
Spur
a thing that prompts or encourages someone; an incentive.
اکسانے والی بات، آر،مہمیز

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