More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Accounting Test Easy Mode MCQs With Answers
Question # 1
Expenses related to sale of goods are shown in
Choose an answer
Trading account
Profit or loss account
Balance sheet
Sales account
Previous
Skip
Next
Question # 2
Transaction are recorded data wise, so journal is also called:
Choose an answer
Entry book
Transaction book
Chronological book
Voucher
Previous
Skip
Next
Question # 3
From the business point of view, interest on drawings is
Choose an answer
An asset
An expense
A liability
A revenue
Previous
Skip
Next
Question # 4
The body of worksheet contains
Choose an answer
Two pairs of money column
Three pairs of money column
Four pairs of money column
Five pairs of money column
Previous
Skip
Next
Question # 5
Income tax paid is a
Choose an answer
Business Expense
Business Revenue
Business Liability
Personal Expense
Previous
Skip
Next
Question # 6
Position statement is similar to a
Choose an answer
Trial balance
Balance sheet
Financial statement
Bank reconciliation statement
Previous
Skip
Next
Question # 7
______ must be prepaid for testing ledger accounts, adjusting entries and financial statement
Choose an answer
Work sheet
Balance sheet
Bank statement
Trail balance
Previous
Skip
Next
Question # 8
All the time of endorsement of a bill the drawer credits:
Choose an answer
The drawee account
The endorser's personal account
Bill receivable account
Endorser's account
Previous
Skip
Next
Question # 9
Interest on drawings is
Choose an answer
An asset
A liability
An expense
A revenue
Previous
Skip
Next
Question # 10
When a bill is discharged the acceptor debits:
Choose an answer
Creditors account
Cash account
Bill payable account
Bill receivable account
Previous
Skip
Next
Question # 11
Gross profit is derived from
Choose an answer
Trading a/c
Profit & Loss a/c
Trial Balance
Balance Sheet
Previous
Skip
Next
Question # 12
Kind of company is.
Choose an answer
2
3
4
5
Previous
Skip
Next
Question # 13
The figure of the credit purchase can be worked out.
Choose an answer
Total debtors account
Total creditors account
Cash book
Balance sheet
Previous
Skip
Next
Question # 14
The company formed by teh means of Royal Charter is called.
Choose an answer
Public limited company
Private limited company
Charterd company
Registered company
Previous
Skip
Next
Question # 15
Income and expenditure account shows.
Choose an answer
Surplus or deficit
Not profit or net loss
Capital account
Cash in hand
Previous
Skip
Next
Question # 16
The powers of company are governed by the.
Choose an answer
Sharehoders
Memorandum of association
Prospectus
Articles of association
Previous
Skip
Next
Question # 17
The amount of share capital which a company is authroxzed to raise is called.
Choose an answer
Subscribed capital
Issued capital
Authorized capital
Paid up capital
Previous
Skip
Next
Question # 18
Gaining ratios are equal to.
Choose an answer
New Ratio - Old ratio
Old ratio- New ratio
New Ratio + old ratios
Capital ratios- New Ratios
Previous
Skip
Next
Question # 19
Amount of to the out going partner is shown in the balance sheet as his.
Choose an answer
Liability
Loan
Capital
Assets
Previous
Skip
Next
Question # 20
The basic club record or book of original entry in non-profit making organization
Choose an answer
Purchase book
Sales book
Cash book
"a" and "b"
Previous
Skip
Next
Question # 21
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Choose an answer
Trading account
Bill payable accont
Consignor account
Consignment account
Previous
Skip
Next
Question # 22
In income and expenditure account
Choose an answer
Expense are recorded on debit side
Revenues are recorded on credit side
Does not start with any opening balance
All of the above
Previous
Skip
Next
Back