Vidyalelo
Commerce · all questions

Accounting
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

2,968

Questions

6/149

Page

Pick an option on a question to see the right answer and solution.

The real accounts are accounts of Assets, Liabilities and

Select an option to see the answer and solution.

If a transaction is completely omitted from the books of accounts, will it effect the agreement of Trial Balance?

Select an option to see the answer and solution.

_______ is the common base for preparing a trial balance

Select an option to see the answer and solution.

Which of the following is true about a trial balance?

Select an option to see the answer and solution.

Debit balance = Credit balance in a trial balance indicates that

Select an option to see the answer and solution.

Trial Balance is commonly prepared

Select an option to see the answer and solution.

Which of the following will affect the agreement of a trial balance?

Select an option to see the answer and solution.

If debit balances = credit balances, trial balance only shows or checks the _________ and it does not indicate that no errors were made during recording and posting.

Select an option to see the answer and solution.

Which of the following account with normal balance is shown at the debit side of a trial balance?

Select an option to see the answer and solution.

Which of the following account with normal balance is shown at the credit side of a trial balance?

Select an option to see the answer and solution.

The closing balance of petty cash book is considered as

Select an option to see the answer and solution.

Payment of rent expenses is recorded on which side of cash book?

Select an option to see the answer and solution.

An entry which is made on both sides of a cash book is called

Select an option to see the answer and solution.

A cash book with cash, bank and discount column is commonly referrred to as

Select an option to see the answer and solution.

Cash book records

Select an option to see the answer and solution.

Cash discount is allowed on ______ repayment of debt

Select an option to see the answer and solution.

Cash book is prepared by

Select an option to see the answer and solution.

The most common imprest system is the ______ system

Select an option to see the answer and solution.

Discount received is recorded on which of the following side of a cash book?

Select an option to see the answer and solution.

Drawings by owner of business are generally recorded on which of the following side of a cash book?

Select an option to see the answer and solution.