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

  1. Receipts
  2. Payments
  3. Income
  4. Expense
  1. Sales income account
  2. Sales account
  3. Return inward account
  4. Expenses account
  1. Cash book
  2. Two columns cash book
  3. Three columns cash book
  4. Petty cash book
  1. At the time of opening new books of account
  2. At the time of closing the accounts
  3. During the course of accounting period any time
  4. After certification of accounts
  1. Partnership
  2. Sole proprietorship
  3. Company
  4. Non-profit organization

  1. Profit and Loss A/c
  2. Capitalized with work in progress
  3. Trading A/c
  4. Shown in Balance Sheet
  1. Credit sales
  2. Credit purchases
  3. Credit sales and purchases
  4. Cash sales and purchases
  1. Credit balance
  2. Debit balance
  3. Cash balance
  4. Neither debit nor credit balance
  1. Triplicate
  2. Duplicate
  3. Single
  4. Quadruplicate
  1. No error in recording transactions
  2. No error in posting entries to ledger accounts
  3. Account balances are correct
  4. Mathematically Capital+Liabilities=Assets
  1. Sales A/c
  2. Cash sales A/c
  3. Sales return A/c
  4. Credit sales A/c