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Accounting Test Easy Mode MCQs With Answers
Question # 1
Ahmad's account is an example of
Choose an answer
real account
personal A/c
nominal account
none of these
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Question # 2
The Legal tenor of a bill is
Choose an answer
Sixty Days
One Month
Eighty Days
Ninety Days
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Question # 3
An expenditure incurred to the increases the profit earning of the concern is a:
Choose an answer
Revenue expenditure
Current expenditure
Capital receipt
Capital expenditure
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Question # 4
Position statement is similar to a
Choose an answer
Trial balance
Balance sheet
Financial statement
Bank reconciliation statement
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Question # 5
The account of depreciation of building of Rs. 30,000 at 5% p.a. will be
Choose an answer
Rs. 20,00
Rs. 15,00
Rs. 25,00
Rs. 5,00
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Question # 6
The money can be deposited into bank by means of
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Cash book
Cheque book
Pay-in-slip book
Pass book
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Question # 7
Assets come into existence upon the happening of a certain event, are called:
Choose an answer
Fixed assets
Fictitious assets
Floating assets
Contingent assets
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Question # 8
When bank column of a cash book shows a credit balance, it means:
Choose an answer
Cash balance
Bank balance
Under draft
Over draft
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Question # 9
The owner of the business is known as:
Choose an answer
Sale man
Agent
Proprietor
Employee
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Question # 10
Allowance for doubtful debts normally has a
Choose an answer
Debit balance
Credit balance
Both debit & credit balance
None of these
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Question # 11
Which one of the following is appeared in the balance sheet
Choose an answer
Revenue expenditure
Capital expenditure
Deferred expenditure
Both b & c
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