Accounting Mcqs & Auditing for NTS FPSC kppsc ppsc Test

Accounting Mcqs

Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. accounting mcqs for accountant. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant.

Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments.

A systematic way to maintain the books of accounts is called_________?

A. Accountancy
B. Economics
C. Book Keeping
D. Auditing

An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?

A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping

The maintenance of accounts in a systematic way is called__________?

A. Accounting
B. Reading
C. Book Keeping
D. Auditing

Goods Return by the customer are termed as :

A. Purchase return
B. Customer return
C. Sales return
D. Inventory return

Modern system of book keeping is called______________?

A. Double entry system
B. American system
C. Single entry system
D. Italic system

The person to whom goods are sold on credit is called___________?

A. Buyer
B. Seller
C. Debtor
D. Creditor

Double entry means______________?

A. Entry in two sets of books
B. Entry at two ends
C. Entry at two dates
D. Entry for two aspects of the transaction

Discount received is a/an:

A. Asset
B. Expense
C. Liability
D. Revenue

Obligation of the Business are known as___________?

A. Liabilities
B. Revenues
C. Expenses
D. Assets

The amount invested by the proprietor to start the business is called:

A. Capital
B. Business
C. Drawings
D. All of them

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