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
Events which are related with money are called:
Choose an answer
Monetary events
Non - monetary events
None-social events
Political events
Previous
Skip
Next
Question # 2
From business point of view, Interest on capital is considered as
Choose an answer
An income
An expense
A profit
A liability
Previous
Skip
Next
Question # 3
The book use to record all credit purchases is called:
Choose an answer
Purchases book
Purchase return book
Cash book
Creditor book
Previous
Skip
Next
Question # 4
The Amount of salary paid to Sohail should be debited to
Choose an answer
Sohail's a/c
Cash Account
Salaries a/c
Both a & c
Previous
Skip
Next
Question # 5
Cash account is a
Choose an answer
Personal account
Nominal account
Real account
Both personal and real account
Previous
Skip
Next
Question # 6
Usually every ______ entry affect both income statement and balance sheet
Choose an answer
Adjusting
Work sheet
Balance sheet
Ledger
Previous
Skip
Next
Question # 7
A document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called
Choose an answer
Receipt voucher
Cash voucher
payment voucher
Cash memo
Previous
Skip
Next
Question # 8
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 # 9
The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:
Choose an answer
Receipt voucher
Payment voucher
Cash voucher
Cash memo
Previous
Skip
Next
Question # 10
A Journal is generally kept on:
Choose an answer
A columnar basis
A row basis
A single line basis
Vertical basis
Previous
Skip
Next
Question # 11
Sales returns book periodical total is posted to
Choose an answer
Debit of returns inwards account
Credit of returns inwards account
Debit of returns outwards account
Credit of returns outwards account
Previous
Skip
Next
Question # 12
The accounts of expenses, incomes, losses and gains
Choose an answer
real accounts
valuation accounts
nominal accounts
personal accounts
Previous
Skip
Next
Question # 13
Which one of the following is a direct expense?
Choose an answer
Packing expense
Advertisement expense
Manufacturing expense
Traveling expense
Previous
Skip
Next
Question # 14
Which one of the following is not considered the permanent part of the accounting record?
Choose an answer
Journal
Trail balance
Ledger
Work sheet
Previous
Skip
Next
Question # 15
Net Profit is transferred to
Choose an answer
Trading Account
Balance Sheet
Capital a/c
Trial Balance
Previous
Skip
Next
Question # 16
An expenditure, which is temporarily increase the profit making capacity of the business is called
Choose an answer
Deferred expenditure
Capital expenditure
Revenue expenditure
Non-recurring expenditure
Previous
Skip
Next
Question # 17
Worksheet contains ______ pairs of money columns
Choose an answer
Five
Four
Three
Two
Previous
Skip
Next
Back