Home MCQs Accounting Mcqs

Accounting Mcqs

Building and furniture are called ____________?

A. Current asset B. Fictitious asset C. Tangible asset D. Fixed assets

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

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

For the business, capital is ____________?

A. Expense B. Liability C. Assets D. All of them

The maintenance of accounts in a systematic way is called__________?

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

Cash discount is provided on _______________?

A. Purchases B. Prompt payment C. Sales D. Sales return

The accounting process involves in recording:

A) Quantifiable economic event B) Non quantifiable economic event C) All of them D) None of them

Goods return to customer are known as:

A. Merchandise return B. Purchase return C. Return inwards D. Sales return

Assets having physical existence are called ___________?

A. Current asset B. intangible asset C. Tangible asset D. Liquid asset

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

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

The excess of current assets over current liabilities is called:

A. Working Capital B. Circulating capital C. Fixed capital D. Trading capital

The assets which have some market value are called ____________?

A. Fixed asset B. Quick asset C. Fictitious assets D. Real assets

Most Read