The other name of journal is____________?
The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash book
The other name of journal is____________? Read More »
Accounting MCQs / Q&AAccounting MCQs / Q&A
Discount allowed is a kind of deduction from_____________?
Discount allowed is a kind of deduction from_____________?
A. Account payable
B. Account receivable
C. Cash account
D. Discount account
Discount allowed is a kind of deduction from_____________? Read More »
Accounting MCQs / Q&AEvery business transaction affects at least ________ accounts?
Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite
Every business transaction affects at least ________ accounts? Read More »
Accounting MCQs / Q&AThe process of recording transactions in different journals is called_________?
The process of recording transactions in different journals is called_________?
A. Posting
B. Entry making
C. Adjusting
D. Journalizing
The process of recording transactions in different journals is called_________? Read More »
Accounting MCQs / Q&AGeneral journal is a book of _______ entries?
General journal is a book of _______ entries?
A. First
B. Original
C. Secondary
D. Generic
General journal is a book of _______ entries? Read More »
Accounting MCQs / Q&AAssets-Liabilities=____________?
Assets-Liabilities=____________?
A. Cash
B. Equity
C. Net income
D. Net expenses
Assets-Liabilities=____________? Read More »
Accounting MCQs / Q&ACurrent assets – Current liabilities=?
Current assets – Current liabilities=?
A. Capital
B. Absorbed capital
C. Net assets
D. Net working capital
Current assets – Current liabilities=? Read More »
Accounting MCQs / Q&AAn increase in provision for bad debt will____________?
An increase in provision for bad debt will____________?
A. Decrease net income
B. Decrease liabilities
C. Increase net income
D. Increase liabilities
An increase in provision for bad debt will____________? Read More »
Accounting MCQs / Q&ADepreciation decreases____________?
Depreciation decreases____________?
A. Liabilities
B. Cash
C. Bank
D. Capital
Depreciation decreases____________? Read More »
Accounting MCQs / Q&AIf Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
A. $5000
B. $10,000
C. $15,000
D. $20,000