Bookkeeping mainly concerns with which part of accounting process ?
A. Recording financial information
B. Analyzing
C. Auditing the books of accounts
D. Preparing financial statements
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
In accounting an Economic event is referred to as____?
A. Bank statement
B. Exchange of money
C. Cash
D. Transaction
Credit memo or credit note No. is entered in which of the following journal ?
A. Purchase journal
B. Sales return day book
C. General journal
D. Cash journal
Which of the following is known as an evidence that a transaction took place ?
A. Source document
B. Cash book
C. Cash receipts journal
D. General journal
Specialized journals are more adequate for which TYPE OF BUSINESSES ?
A. Sole proprietorship
B. Big businesses
C. Partnership
D. Small businesses
Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals ?
A. General journal
B. Cash receipt journal
C. Purchase journal
D. Sales return journal
SALE of old furniture” will be recorded in which of the following specialised journals ?
A. General journal
B. Cash receipt journal
C. Sales journal
D. Purchase journal
Debit note is the basis for recording a transaction in which of the following journals ?
A. Purchase return journal
B. Purchase journal
C. General journal
D. Cash journal
Credit purchase of plant and machinery is recorded in which of the following journals ?
A. Purchase journal
B. Purchase return journal
C. General journal
D. Cash journal
A brief explanation recorded below every entry in general journal is commonly known as ______ ?
A. Summary
B. Sales journal
C. Explanation
D. Narration