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
Accounts relating to persons of firms are called:
Choose an answer
Real accounts
Proprietary accounts
Personal accounts
Nominal accounts
Previous
Skip
Next
Question # 2
The system of recording transaction based on dual concept is called
Choose an answer
Double account system
Double entry system
Single entry system
Management system
Previous
Skip
Next
Question # 3
Carriage account is a/an
Choose an answer
asset account
revenue account
expenditure A/c
withdrawal account
Previous
Skip
Next
Question # 4
The effect of drawing on accounting equation is
Choose an answer
decrease in assets and decrease in liabilities
increase in both assets & liabilities
decrease in assets and increase in capital
none of these
Previous
Skip
Next
Question # 5
The balance of the trading account is the transferred to:
Choose an answer
Profit and loss account
Balance sheet
Work sheet
Position statement
Previous
Skip
Next
Question # 6
A statement which i prepared to ascertain the net income or net loss for a specific accounting period is called
Choose an answer
Position statement
Statement of condition
Financial statement
Bank reconciliation statement
Previous
Skip
Next
Question # 7
An expenditure incurred to the increases the profit earning of the concern is a:
Choose an answer
Revenue expenditure
Current expenditure
Capital receipt
Capital expenditure
Previous
Skip
Next
Question # 8
Trade expenses of Rs. 180 posted in the ledger as Rs. 810, it will be considered as
Choose an answer
Error of principle
Error of omission
Error of casting
Error of transposition
Previous
Skip
Next
Question # 9
Real accounts are related to:
Choose an answer
Assets
Expenses, losses and incomes
Customers, creditors
Incomes
Previous
Skip
Next
Question # 10
When bank column of a cash book shows a credit balance, it means:
Choose an answer
Cash balance
Bank balance
Under draft
Over draft
Previous
Skip
Next
Question # 11
The favorable balance of bank statement is
Choose an answer
Credit balance
Debit balance
Zero balance
All of these
Previous
Skip
Next
Back