The normal balance of liability account is ______ ?
A. Cash balance
B. Neither debit nor credit balance
C. Credit balance
D. Debit balance
ACCOUNTING MCQS
Accounting MCQs with answers for online tests cover topics such as PPSC, FPSC, NTS, KPPSC, SPSC, ETEA, AJKPSC, and BPSC. Accounting multiple-choice questions (MCQs) for competitive exams. Our MCQs cover a wide range of accounting topics, including financial accounting, management accounting, auditing, taxation, and more
Normal balance of asset account is ______ ?
A. Debit balance
B. Neither debit nor credit balance
C. Credit balance
D. Cash balance
Normal balance of capital account is ______ ?
A. Neither debit nor credit balance
B. Credit balance
C. Debit balance
D. Cash balance
If debit balance is greater than creadit balance then the account blance will be _____ ?
A. Cash balance
B. Debit balance
C. Credit balance
D. Debit and credit balance
Which of the following is known as the base for preparing trial balance ?
A. Ledger account
B. Balance sheet
C. Cash account
D. Journal
_____ will be credited if goods are given as charity ?
A. Sales
B. Purchases
C. Charity
D. Cash
If credit side of a bank account is greater than the debit side, it indicates which of the following ?
A. Bank balance
B. Current Asset
C. Bank overdraft
D. Cash at bank
An account records the _____ in the balance of an item ?
A. Decrease
B. Appreciation
C. Increase
D. Increase or decrease
Transferring entries from journal to ledger account is commonly known as _____ ?
A. Posting
B. Entry making
C. Recording
D. Transferring
Which of the following accounts can be classified as a real account ?
A. insurance expenses account
B. Cash account
C. Rent expenses account
D. Rent income account