Accounting Variation Proforma MCQs

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MCQs 1 to 10

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The payment of cash to supplier will?

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A debit will reduce _____________________________, but increase ___________________________?

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In double entry system of book–keeping every business transaction affects?

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How the debit side of journal effect?

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The decrease in owner’s equity attributable to business activities is called?

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The amount charged to customer for goods or services sold is called?

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A person who pays out something or to whom money owes is called?

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The amount of salary paid to Sohail should be debited to?

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Which of the following transactions results in an immediate increase in expenses?

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The effect of a credit entry on the payables account is to?

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Accounting Variation Proforma (1-10)
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MCQs 11 to 20

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The person or corporation from whom the business is purchased is?

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Every transaction has minimum __________________?

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Expired cost of any fixed assets?

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All of them are same except?

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What the nature of purchases account?

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If the goods are purchased for the purpose of resale on credit, then the following account would be credited?

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The rent paid to landlord should be credited to?

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What is the nature of sales?

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When drew cash from bank Rs. 8,000 for office use bank account will be?

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To record goods returned inward?

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Accounting Variation Proforma (11-20)
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References

Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.

Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.

Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.

1 Comment

  1. Plz correct….
    3. The payment of cash to supplier will?

    (a) Reduce cash balance and reduce current liabilities

    (b) Increase receivables and reduce cash balance

    (c) Reduce account payable and increase purchases

    (d) Increase payable and reduce cash balance

    Reply

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