accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- Which of the following are the owners of a company?
- General office expenses are charged to which of the following head?
- Stock of a Trading concern consists of
- Expenditure incurred annually on renewal of patent is a
- Which of the following account will be credited when the goods are purchased on cash?
- Which of the following account will be credited when the goods are purchased on credit from Mr. Ali?
- An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as
- Documentary evidence, in a specific format used to record the details of a transaction is known as
- Cost incurred for the maintenance of shop is considered as
- Double entry accounting system includes
- Which of the following financial statements show the financial health of an organisation at a stated point of time?
- The estimated value at which an asset is expected to be sold after the end of its useful life is called
- Which of the following is a selling expense?
- A debit balance in the bank statement indicates
- Which one of the following is NOT true about capital expenditure?
- Which of the following is not an item of Balance Sheet?
- In an account, when credit side total < debit side total, then, the balance is known as
- Which of the following is used to record financial transactions in chronological (day-to-day) order?
- Net Profit = Gross Profit minus
- Money spent to acquire or upgrade physical assets is known as
- Salaries paid in advance should be shown on
- Which of the following assets are shown at written down value in Balance sheet?
- Which one of the following is INCORRECT about closing stock?
- What is the next step to Journalizing in accounting cycle?
- Outsider's claim against the assets of the business is called
