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Accounting Test Easy Mode MCQs With Answers
Question # 1
If the balance of suspense account is credit then it will be shown in balance sheet on
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Asset side
Asset and liability side
Asset and capital side
Capital and liability side
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Question # 2
Goodwill, patent, copyright and trade mark are
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Wasting assets
Intangible assets
Fictitious assets
Liquid assets
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Question # 3
The book use to record all credit purchases is called:
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Purchases book
Purchase return book
Cash book
Creditor book
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Question # 4
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 # 5
Which book is used to record all cash receipts and cash payments?
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Sale book
Purchase book
Cash book
Petty cash book
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Question # 6
Raw material destroyed in fire represents
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capital loss
revenue loss
normal loss
both b, c
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Question # 7
Profit & Loss a/c is prepared to ascertain
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Gross Profit
Net Profit
Gross Loss
Real Profit
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Question # 8
Personal account are related to:
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Assets and liabilities
Expenses, losses
Customers, creditors etc.
Incomes
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Question # 9
Any difference in trial balance is transferred to
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sales account
nominal account
purchases account
suspense account
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Question # 10
An error completely omitted to be entered in the journal
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partial error
error of posting
error of casting
complete error
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Question # 11
Journal is prepared in
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Columnar form
Vertical form
Horizontal form
Row form
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