Accounting MCQs

1590 MCQs  (Page 50 of 159)

Attempt Accounting MCQs Quiz
A cash book that is used to record the small payments of cash is generally referred as_________?
A. simple cash book
B. two column cash book
C. three column cash book
D. petty cash book
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Drawings by owner of business are generally recorded on which of the following side of a cash book?
A. receipts
B. payments
C. incomes
D. expenditures
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Payment of rent expenses is recorded on which side of cash book?
A. receipts
B. payments
C. income
D. expense
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Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
A. $2000
B. zero
C. $3000
D. $2500
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A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book
A. $1000 will be added to cash book balance
B. $2000 will be deducted from cash book balance
C. $3000 will be added to cash book balance
D. $3000 will be subtracted from cash book balance
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$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
A. $5000 will be credited
B. $5000 will be debited
C. $10,000 will be credited
D. $10,000 will be debited
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An entry which is made on both sides of a cash book is called__________?
A. cash entry
B. contra entry
C. payment entry
D. compound entry
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Cash book records:______________?
A. cash payments
B. cash receipts
C. cash payments and cash receipts
D. neither cash payments nor cash receipts
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Cash book is prepared by____________?
A. bank
B. accountant of business
C. manager of a company
D. bank’s cashier
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Discount received is recorded on which of the following side of a cash book?
A. receipts
B. payments
C. incomes
D. expenditures
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Word of the Day
16 Jul
Volatile
(of a substance) easily evaporated at normal temperatures.
بدلتے مزاج والا، کافور صفت

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