A. Expenses are greater than Income
B. Expenses are less than Income
C. Expenses=Income
D. Liabilities are greater than income
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. Depreciation
B. Drawings
C. Outflow of cash
D. Appreciation
A. Cash and cash equivalent
B. Creditors
C. Notes payable
D. Bank loan
A. Cash from the business
B. liability of a business
C. Owner’s claim on total assets
D. Owner’s claim on total liabilities
A. Cash
B. Equipment
C. Debtors
D. Creditors
A. Capital+Liabilities=Assets
B. Assets+ liabilities =Capital
C. Capital+assets=liabilities
D. Liabilities+Capital
A. Long life of assets
B. Value of assets
C. Intangible nature of assets
D. Future economic benefits
A. Identifying transactions
B. Preparing “T Accounts”
C. Preparing financial statements
D. Preparing trial balances
A. Present event
B. Future event
C. Past event
D. None of them
A. Possessed
B. Owned
C. Controlled
D. Used
