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Accounting MCQs with Answers

Drawings by owner of business are generally recorded on which of the following side of a cash book?

April 20, 2025 by admin
A. Receipts
B. Payments
C. Incomes
D. Expenditures
Categories Accounting MCQs with Answers Leave a comment

Payment of rent expenses is recorded on which side of cash book?

April 20, 2025 by admin
A. Receipts
B. Payments
C. Income
D. Expense
Categories Accounting MCQs with Answers Leave a comment

Cash discount is allowed on _______ repayment of debt.

April 20, 2025 by admin
A. Lump sum
B. Prompt
C. Actual
D. None of them
Categories Accounting MCQs with Answers Leave a comment

Introduction capital by owner of business is recorded on which side of a cash book?

April 20, 2025 by admin
A. Receipts
B. Payments
C. Incomes
D. Expenditures
Categories Accounting MCQs with Answers Leave a comment

A cash book with cash, bank and discount column is commonly referred as________?

April 20, 2025 by admin
A. Cash book
B. Two columns cash book
C. Three columns cash book
D. Petty cash book
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The most common imprest system is the ________ system?

April 20, 2025 by admin
A. Petty cash
B. Cash book
C. Cash receipt
D. Discount
Categories Accounting MCQs with Answers Leave a comment

Which English alphabet is similar to the shape of an account?

April 20, 2025 by admin
A. I
B. T
C. H
D. None
Categories Accounting MCQs with Answers Leave a comment

When production is equal to sales, which of the following is TRUE?

April 20, 2025 by admin
A. No change occurs to inventories for either use absorption costing or variable costing methods
B. The use of absorption costing produces a higher net income than the use of variable costing
C. The use of absorption costing produces a lower net income than the use of variable costing
D. The use of absorption costing causes inventory value to…
Categories Accounting MCQs with Answers Leave a comment

An average cost is also known as________?

April 20, 2025 by admin
A. Variable cost
B. Unit cost
C. Total cost
D. Fixed cost
Categories Accounting MCQs with Answers Leave a comment

Costs that change in response to alternative courses of action are called___________?

April 20, 2025 by admin
A. Relevant costs
B. Differential costs
C. Target costs
D. Sunk costs
Categories Accounting MCQs with Answers Leave a comment
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