A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of asset account is____________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of capital account is_____________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
Which of the following is known as the base for preparing trial balance? Read More »
Accounting MCQs / Q&A, Ledger A. Cash
B. Charity
C. Purchases
D. Sales
_________ will be credited if goods are given as charity? Read More »
Accounting MCQs / Q&A, Ledger A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement
A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset
A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation
An account records the ___________ in the balance of an item? Read More »
Accounting MCQs / Q&A, Ledger A. Recording
B. Transferring
C. Posting
D. Entry making
Transferring entries from journal to ledger account is commonly known as____________? Read More »
Accounting MCQs / Q&A, LedgerWhich 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
Which of the following accounts can be classified as a real account? Read More »
Accounting MCQs / Q&A