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

  1. Present event
  2. Future event
  3. Past event
  4. None of them
  1. Written down to zero or its scrap value
  2. Shown in the Balance Sheet at its replacement cost
  3. Shown in the Balance Sheet at cost, but classified as a non-current asset
  4. Carried in the accounting records at cost until it is sold
  1. One
  2. Two
  3. Three
  4. Infinite
  1. Assets
  2. Expenditure
  3. Liability
  4. None
  1. sale is effected
  2. cash is received
  3. production is completed
  4. debts are collected
  1. Machinery account
  2. Building account
  3. Creditors account
  4. Rent expenses account

  1. An Asset in the Balance Sheet
  2. A Liability
  3. By adjusting it in the P & L A/c
  4. Both B. and C. above
  1. $1000 will be added to cash book balance
  2. $2000 will be deducted from cash book balance
  3. $3000 will be added to cash book balance
  4. $3000 will be subtracted from cash book balance
  1. Purchase register
  2. Purchase A/c
  3. Cash purchase A/c
  4. Credit purchase A/c
  1. Future economic benefits for the business
  2. All kind of benefits for the business
  3. Expenses for the business
  4. Merits and Demerits for the business
  1. It is already adjusted in the opening stock
  2. It is adjusted in the Purchase A/c
  3. It is adjusted in the Cost of Sale A/c
  4. It is adjusted in the Profit &Loss A/c