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Accounting Mcqs

Accounting Mcqs

Building and furniture are called ____________?

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

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

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

For the business, capital is ____________?

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

The maintenance of accounts in a systematic way is called__________?

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

Cash discount is provided on _______________?

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

When owner withdraw cash for its private use, it is called ___________?

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A. Profit B. Income C. Expense D. Drawing
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Accounting Mcqs

The accounting process involves in recording:

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

Goods return to customer are known as:

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

Assets having physical existence are called ___________?

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

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

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

The excess of current assets over current liabilities is called:

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

The assets which have some market value are called ____________?

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