Types of Accounts MCQs

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MCQs 1 To 10

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Which of the following item of revenue nature?

Correct! Wrong!

All of following are Expenses except?

Correct! Wrong!

All economics costs that a business incur through its operation to earn revenues?

Correct! Wrong!

Economic resources of business that expected to be of benefit in future time referred as?

Correct! Wrong!

All of following are Assets except?

Correct! Wrong!

Which of the following is an identifiable non-monetary asset without physical substance?

Correct! Wrong!

All of the following are Liabilities except?

Correct! Wrong!

Revenue?

Correct! Wrong!

Liabilities are?

Correct! Wrong!

Residual interest in the net asset of an entity that remains after deducting its liabilities is?

Correct! Wrong!

Accounting Pillars (1-10)
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Good *
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MCQs 11 To 20

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Which of the following is an example of an intangible asset?

Correct! Wrong!

Which of the following is not an asset?

Correct! Wrong!

Economic Obligations of the Business are called?

Correct! Wrong!

What is owned by a business and used in carrying out its operating activities is best described as?

Correct! Wrong!

Which of the following is an expense?

Correct! Wrong!

Assets which have no physical existence and which cannot be seen, touched or felt are?

Correct! Wrong!

Which of the following is a liability?

Correct! Wrong!

Which of the following is a liability?

Correct! Wrong!

Which of the following would not be regarded as an asset?

Correct! Wrong!

Which of the following is the liability?

Correct! Wrong!

Accounting Pillars (11-20)
Super Excellent ***
Excellent ***
Very Good **
Good *
Fair
Fail

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>> Practice Accounting Equation Problems and Solutions

References

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

Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.

Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.

Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.

 

5 Comments

  1. Please correct Qno3
    (All of following are assets except____? Unearned income (option C is correct)

    Reply
  2. Q .NO 03: Answer is incorrect, Kindly correct it

    Reply
    • Option D is correct. No issue in answer…

      Reply
  3. I went over this site and I believe you have a lot of wonderful information, saved to favorites.

    Reply
  4. these are vary heplfull questions thanks

    Reply

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