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Accounting Test Easy Mode MCQs With Answers
Question # 1
The gross amount of goods sold or services performed during an accounting period is known as
Choose an answer
Purchase
Sale
Gross profit
Net profit
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Question # 2
Accounting records of a business enterprise are required by
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management of the business
outsiders
all of the above
none of the above
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Question # 3
A statement which is used to reconcile the bank balance as per cash book with the balance as per pass book is called
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Bank statement
Income statement
Bank reconciliation statement
Financial statements
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Question # 4
A bill from the point of view of a debtor is called
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Bill Acceptable
Bill Receivable
Bill Payable
None of these
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Question # 5
If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an
Choose an answer
Error of commission
Error of principle
Compensating error
Error of principle
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Question # 6
Bank reconciliation statement is prepared by
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Banker
Customers Accountant
Auditor
Manager
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Question # 7
Expenses related to sale of goods are shown in
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Trading account
Profit or loss account
Balance sheet
Sales account
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Question # 8
A Ledger is a book in which
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Only Personal & Cash Accounts are Opened
Only Real Accounts are Opened
Only Nominal Accounts are Opened
All Real, Nominal and Personal Accounts are Opened
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Question # 9
A trial balance can be constructed by
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Three Methods
Two Methods
Four Methods
Five Methods
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Question # 10
Allowance for doubtful debts normally has a
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Debit balance
Credit balance
Both debit & credit balance
None of these
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Question # 11
Error of carry forward will affect
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Personal accounts
Nominal accounts
Impersonal accounts
None of these
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