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Accounting Test Easy Mode MCQs With Answers
Question # 1
A book which is used to record small expenses is called
Choose an answer
Expenses book
Cash book
Petty cash book
Purchases book
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Question # 2
Cheques issued to a creditor but not presented for payment are called
Choose an answer
Un Credited Cheques
Uncollected Cheques
Un Presented Cheques
Dishonoured Cheques
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Question # 3
Book used to record petty expenses and receipts
Choose an answer
Single Column Cash Book
Petty Cash Book
Double Column Cash Book
Treble Column Cash Book
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Question # 4
A document is sent to customer when he returns the goods is called
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Promissory note
Debit note
Currency note
Credit note
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Question # 5
A credit sale was wrongly passed through purchases book, the rectification of the entry will:
Choose an answer
Increase the net profit by, double amount
Decrease the net profit
Decrease the net profit by double amount
Have no effect on the net profit
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Question # 6
In double entry system of bookkeeping every business transaction affects:
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Debit or credit side of the same account
Two accounts
The same side of the same account
None of the above
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Question # 7
Which column is prepared in single column cash book?
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Bank Column
Cash Column
Discount Column
All of the Above
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Question # 8
All cash purchases and cash sales are recorded in:
Choose an answer
Sales book
Purchases book
Both a & b
Cash book
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Question # 9
Errors is casting of subsidiary books are called as
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Error of omission
Compensating error
Error of posting
Clerical errors
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Question # 10
If the balance of suspense account is credit then it will be shown in balance sheet on
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Asset side
Asset and liability side
Asset and capital side
Capital and liability side
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Question # 11
A bank reconciliation statement is prepared by:
Choose an answer
banker
Accountant of the business
Statutory auditors
Rigistar
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