📒Accounting MCQs
Accounting MCQs
397 MCQs91
Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
A$6000
B$10,000
C$5000
D$1000
92
Find out the value of assets if: Liabilities=$5000 and Capital=$1000
A$4000
B$6000
C$7000
D$3000
93
The Basic accounting equation is___________?
AAsset=Expense +Income
BAssets=Cash+Capital
CAssets=Capital+Liabilities
DAssets=Expenses+Capital
94
Which of the following is the closing balance of a ledger account?
ABalance c/d
BBalance b/d
CBalance e/d
DBalance f/c
95
Which of the following accounts are closed at the end of an accounting period?
ANominal accounts
BBalance sheet accounts
CReal accounts
DNone of them
96
Which of the following is a real account?
AOffice equipment
BRent expenses
CRent income
DInsurance expense
97
___________ helps business to classify transactions according to their nature?
AGeneral journal
BReal accounts
CLedger accounts
DCash accounts
98
Office equipments account is classified as _________ account?
ANominal
BReal
CCash
DCapital
99
Amount paid to Masood posted to the credit side of his account would affect___________?
AMasood’s account
BCash account
CCash account and Gagan’s account
DNone of these
100
Total depreciation of an asset cannot exceed its:
AScrap value
BResidual value
CMarket value
DDepreciable value