Capital of a business decreases if there is an increase in___________?
A. Drawings
B. Income
C. Gains
D. Fresh capital
Capital of a business decreases if there is an increase in___________? Read More »
Accounting MCQs / Q&ACapital increases if _________ increases?
A. Expenses
B. Drawings
C. Interest on capital
D. Revenue
Capital increases if _________ increases? Read More »
Accounting MCQs / Q&ACalculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
A. $6000
B. $10,000
C. $5000
D. $1000
Find out the value of assets if: Liabilities=$5000 and Capital=$1000
A. $4000
B. $6000
C. $7000
D. $3000
Find out the value of assets if: Liabilities=$5000 and Capital=$1000 Read More »
Accounting MCQs / Q&AThe Basic accounting equation is___________?
A. Asset=Expense +Income
B. Assets=Cash+Capital
C. Assets=Capital+Liabilities
D. Assets=Expenses+Capital
The Basic accounting equation is___________? Read More »
Accounting MCQs / Q&A A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c
Which of the following is the closing balance of a ledger account? Read More »
Accounting MCQs / Q&A, Ledger A. Nominal accounts
B. Balance sheet accounts
C. Real accounts
D. None of them
Which of the following accounts are closed at the end of an accounting period? Read More »
Accounting MCQs / Q&A, Ledger A. Office equipment
B. Rent expenses
C. Rent income
D. Insurance expense
Which of the following is a real account? Read More »
Accounting MCQs / Q&A, Ledger A. General journal
B. Real accounts
C. Ledger accounts
D. Cash accounts
___________ helps business to classify transactions according to their nature? Read More »
Accounting MCQs / Q&A, LedgerOffice equipments account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
Office equipments account is classified as _________ account? Read More »
Accounting MCQs / Q&A