accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- Sales and purchase journal doesn't record
- Cash received from debtor is recorded in which of the following specialized journals?
- Which of the following is a type of cash receipt journal + cash payment journal?
- Cash purchases is recorded in which of the following specialized journals?
- A brief explanation recorded below every entry in General Journal is commonly known as
- Debit note is the basis for recording a transaction in which of the following journals?
- Credit note is the basis for recording a transaction in which of the following journals?
- Specialized journals are more adequate for which type of businesses?
- Transferring entries from journal to ledger account is commonly known as
- An 'account' records the ______ in the balance of an item
- _____ will be credited if goods are given as charity
- Which of the following is known as the base for preparing trial balance?
- The normal balance of capital account is
- The normal balance of asset account is
- The normal balance of liability account is
- Which of the following statements is incorrect regarding capital account?
- Which of the following is the normal balance of a rent expense account?
- Revenue and expense accounts are referred to as
- Office equipment's account is classified as
- Which of the following are closed at the end of an accounting period?
- Which of the following is the closing balance of a ledger account?
- Trial Balance is prepared to check accuracy of
- The closing balance of petty cash book is considered as
- Payment of rent expenses is recorded on which side of cash book?
- An entry which is made on both sides of a cash book is called
