Question # 1

Bank Reconciliation represents

Choose an answer

A Journal

A Ledger

A Statement

both a and c

The first successful step of Double Entry System is

Choose an answer

Leger

Journal

Final Account

Trial Balance

Which one of the following is a direct expense?

Choose an answer

Packing expense

Advertisement expense

Manufacturing expense

Traveling expense

It is used to record cash, bank and discount transactions on debit and credit side

Choose an answer

Single column cash book

Petty cash book

Double column cash book

Treble column cash book

If any expense omitted to be recorded it will

Choose an answer

Overstate the profit

Understate the profit

Both a & b

No effect on profit

Our cheque to Ali & Bros, returned dishonored should be credited to

Choose an answer

Cheque account

Cash account

Bank account

Ali & Bros account

Error of carry forward will affect

Choose an answer

Personal accounts

Nominal accounts

Impersonal accounts

None of these

Nominal account are related to:

Choose an answer

Assets and liabilities

Expenses, losses and incomes

Customers, creditors etc

Capital account

The ______ is not a part of the permanent accounting record

Choose an answer

worksheet

Journal

Ledger

Trail balance

In journalizing the page numbers of the ledgers are written in:

Choose an answer

The first column of journal

The second column of journal

The third column of journal

The fourth column of journal

Suspense means

Choose an answer

certainty

uncertainty

surly

none of these

Registered company is

Choose an answer

2

3

4

5

Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.

Choose an answer

Realization account

Revalution account

Debtors account

None of these

Cash paid to creditors can be woked out from.

Choose an answer

Debtora account

Creditors account

Balance sheet

None of theses

The depreciation charged to motor car account will be debited to.

Choose an answer

Depreciation account

Motor car account

Cash account

None of these

Consignment account is in the nature of.

Choose an answer

Profit and loss account

Real account

Personal Account

None of these

Example of non-profit making organization

Choose an answer

Fan factory

Sugar industry

Hospital

Shoe factory

For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.

Choose an answer

Commission account

Consignee's personal account

Consignement account

None of these

Under annuity method the amount of depreciation is.

Choose an answer

Increasing every year

Decreasing every year

Fixed for all the year

None of these

In case of dissolution, assets sold for cash are debited to.

Choose an answer

Realization account

Cash account

Assets account

None of these

Surplus balance cna be shown in the balnce sheet as.

Choose an answer

Asset

Liability

Owner's equity

None of these

Double entry system means

Choose an answer

The recording of same things twice

Double accounting

The two sides of every transaction are recorded

Entry at two dates

More Classes

Other Links

Accounting Test Easy Mode MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer