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Accounting Test Easy Mode MCQs With Answers

Question # 1

The accounts of expenses, incomes, losses and gains

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real accounts

valuation accounts

nominal accounts

personal accounts

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Question # 2

Carriage account is a/an

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asset account

revenue account

expenditure A/c

withdrawal account

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Question # 3

All the acceptances received from the debtors are recorded in

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Cash book

Bills payable book

Debtor's book

Bills receivable book

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Question # 4

Preliminary expenses paid in the formation of a company is a

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Capital expenditure

Deferred expenditure

Revenue expenditure

Capital loss

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Question # 5

Errors which affect one account can be

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errors of principle

errors of posting

errors of omission

none of these

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Question # 6

Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to:

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Assets account

Expenses account

Cash account

Purchases account

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Question # 7

The inflow of assets in return for services performed or products delivered during a period is

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Asset

Revenue

Non current asset

None of these

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Question # 8

Expenditure, which helps to maintain the business efficiency is called

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Revenue expenditure

Deferred expenditure

Capital expenditure

Future expenditure

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Question # 9

The rules of the debiting the receiving and crediting the giver is applicable to:

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Persona account

Real account

Nominal account

Expense account

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Question # 10

Which one of the following is a direct expense?

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Custom duty

Carriage

Wages

All of above

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Question # 11

Receipts, which are non-recurring by nature, are called

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revenue receipts

current receipts

capital receipts

capital profit

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