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MCQs / Q&A

The normal balance of asset account is____________?

August 9, 2021July 28, 2017 by admin
The normal balance of asset account is____________?

A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance

Categories Accounting MCQs / Q&A, Ledger

The normal balance of capital account is_____________?

August 9, 2021July 28, 2017 by admin
The normal balance of capital account is_____________?

A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance

Categories Accounting MCQs / Q&A, Ledger

If debit balance is greater than creadit balance then the account blance will be__________?

August 9, 2021July 28, 2017 by admin
If debit balance is greater than creadit balance then the account blance will be__________?

A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance

Categories Accounting MCQs / Q&A, Ledger

Which of the following is known as the base for preparing trial balance?

August 9, 2021July 28, 2017 by admin
Which of the following is known as the base for preparing trial balance?

A. Journal
B. Cash account
C. Ledger account
D. Balance sheet

Categories Accounting MCQs / Q&A, Ledger

_________ will be credited if goods are given as charity?

August 9, 2021July 28, 2017 by admin
_________ will be credited if goods are given as charity?

A. Cash
B. Charity
C. Purchases
D. Sales

Categories Accounting MCQs / Q&A, Ledger

If debit side of a bank account is greater than credit side it indicates which of the following?

August 9, 2021July 28, 2017 by admin
If debit side of a bank account is greater than credit side it indicates which of the following?

A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement

Categories Accounting MCQs / Q&A, Ledger

If credit side of a bank account is greater than the debit side, it indicates which of the following?

August 9, 2021July 26, 2017 by admin
If credit side of a bank account is greater than the debit side, it indicates which of the following?

A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset

Categories Accounting MCQs / Q&A, Ledger

An account records the ___________ in the balance of an item?

August 9, 2021July 26, 2017 by admin
An account records the ___________ in the balance of an item?

A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation

Categories Accounting MCQs / Q&A, Ledger

Transferring entries from journal to ledger account is commonly known as____________?

August 9, 2021July 26, 2017 by admin
Transferring entries from journal to ledger account is commonly known as____________?

A. Recording
B. Transferring
C. Posting
D. Entry making

Categories Accounting MCQs / Q&A, Ledger

Which of the following accounts can be classified as a real account?

August 9, 2021July 26, 2017 by admin

Which of the following accounts can be classified as a real account?

A. Rent expenses account
B. Rent income account
C. insurance expenses account
D. Cash account

Categories Accounting MCQs / Q&A
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