accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- Net income equal to Revenues minus
- Payment of expenses will ______ the assets
- Which of the following accounting equation is correct?
- Fresh capital introduction will increase
- Current Assets - Current Liabilities = ?
- The process of recording in Journal is done
- General Journal is a book of _____ entries
- The process of recording transactions in different journals is called
- Every business transaction affects at least ____ accounts
- Discount allowed is a kind of deduction from
- The other name of Journal is
- The Journal entry in which two or more account is debited or credited is referred to as
- Goods returned by customer should be debited to which of the following accounts?
- Discount allowed is
- Which of the following will be debited if a business purchases goods on credit?
- Which of the following accounts will be debited if the business's owner withdraws cash from business for personal use?
- Journals are also referred to as
- The standard format of Journal does not include which of the following?
- In which of the following order, data is entered into the Journal?
- Which of the following accounts will be credited if a company purchases building for cash?
- Discount for quick repayment of debt is normally referred to as
- Which of the following specialized journal records "goods returned by customers"?
- Sales on credit is recorded in which of the following journal?
- Transactions that a business does not record in any specialized journal are recorded in which of the following books?
- Which of the following specialized journal records "goods returned by the business"?
