Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	The accrued income or outstanding income will appear in the balance sheet as	An expense A liability An asset Both a & b
2	A prepaid expense is	An asset A liability An expense An income
3	The revenue that has not become due, but received in cash in current year is known as	Revenue received in advance Accrued revenue Unearned revenue Both a & c
4	An income which has earned but not received is called	Unearned income Accrued revenue Revenue received in advance None of these
5	All those expenses which have not become due but paid in advance are called	Accrued expenses Outstanding expenses Prepaid expenses Payable expenses

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