MCQs4All - Accounting MCQs for NTS, FPSC, CSS, IELTS, TOEFL

  1. It bring out any errors committed in preparation of Cash book / Bank Pass Book
  2. Highlights under delay in clearance of cheques deposited but not credited
  3. Help know actual bank balance
  4. All the three
  1. Credited in the cash book
  2. Debited in the cash book
  3. Entered in the bank statement
  4. Entered in the petty cash balance
  1. Prime cost
  2. Explicit cost
  3. Job order cost
  4. Conversion cost
  1. Shown as a deduction from contract work-in-progress on asset side
  2. Shown as a liability
  3. Credited to P&L A/c
  4. Either A. or B. above
  1. Assets column
  2. Date column
  3. Description column
  4. Amount column
  1. Business entity concept
  2. Money measurement concept
  3. Going concern concept
  4. Matching concept

  1. Opening Stock
  2. Carriage inward
  3. Wages & Salary
  4. Postage & Stamps
  1. Posting the letters in drop box
  2. Posting suitable person to a suitable job
  3. Entering in the ledger the information contained in the ledger
  4. All the three
  1. Expenses
  2. Obligations
  3. Creditors
  4. Income or gain
  1. Fixed asset
  2. Quick asset
  3. Fictitious assets
  4. Real assets
  1. Decrease net income
  2. Decrease liabilities
  3. Increase net income
  4. Increase liabilities
  1. Debit
  2. Credit
  3. Expenses
  4. Liability