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NAT I Commerce Accounting MCQs With Answers
Question # 1
Balance sheet is a statement of
Choose an answer
Assets
Both first
Liabilities
None of these
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Question # 2
Goods returned to supplier should be credited to:
Choose an answer
Supplier A/c
Purchase return A/c
Sales return A/c
Purchases A/c
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Question # 3
Cheque received but not deposited recorded in cash book is
Choose an answer
Cash column
Discount column
Bank column
None of these
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Question # 4
Accounting is called of business:
Choose an answer
Heart
Ear
Tongue
Eye
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Question # 5
Carriage paid on goods purchased is a
Choose an answer
Direct expense
Opening expense
Indirect expense
General expense
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Question # 6
For payment of bill of exchange grace days are
Choose an answer
2 days
3 days
5 days
4 days
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Question # 7
A bill of exchange is accepted by:
Choose an answer
Drawer
Payee
Drawee
Bank
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Question # 8
Freight paid on machinery purchased is a
Choose an answer
Revenue expenditure
Capital expenditure
Capital loss
Revenue loss
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Question # 9
Which of the following account is increased by debit entries
Choose an answer
Capital A/c
Building A/c
Sales A/c
Purchase return A/c
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