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

  1. Error of principle
  2. Error of commission
  3. Error of omission
  4. Error of duplication
  1. Assets accounts
  2. liability accounts
  3. Cash accounts
  4. Revenue accounts
  1. Credited to the Profit & Loss Account
  2. Debited to the Profit & Loss Account
  3. Shown on the liabilities side of the Balance Sheet
  4. Shown on the assets side of the Balance Sheet
  1. Narration
  2. Explanation
  3. Summary
  4. Other information
  1. Accountant of the business
  2. Manager of the business
  3. Controller of the bank
  4. Accountant of the bank

  1. Capital
  2. Absorbed capital
  3. Net assets
  4. Net working capital
  1. Adding 2,200 to closing stock
  2. Deducting 1,800 from closing stock and deducting 2,200 each from debtors and sales
  3. Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales
  4. Deducting 1,800 from debtors
  1. Cash and cash equivalent
  2. Creditors
  3. Notes payable
  4. Bank loan
  1. Assets and liabilities
  2. Assets and equity
  3. Liabilities and equity and bank balance
  4. Capital and liabilities
  1. Cash at bank
  2. Bank understatement
  3. Bank overdraft
  4. Balance overstatement