📒Accounting MCQs
Accounting MCQs
397 MCQs81
If debit balance is greater than creadit balance then the account blance will be__________?
ACredit balance
BDebit and credit balance
CCash balance
DDebit balance
82
Which of the following is known as the base for preparing trial balance?
AJournal
BCash account
CLedger account
DBalance sheet
83
_________ will be credited if goods are given as charity?
ACash
BCharity
CPurchases
DSales
84
If debit side of a bank account is greater than credit side it indicates which of the following?
ACash at bank
BBank understatement
CBank overdraft
DBalance overstatement
85
Goods returned by customer should be debited to which of the following accounts?
ASales income account
BSales account
CReturn inward account
DExpenses account
86
Net income equal to Revenues minus____________?
AGains
BDepreciation
CExpenses
DCapital expenditures
87
If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
AIncrease in capital
BRemain the same
CDecrease in capital
DNo effect on capital
88
If the total liabilities of a business decrease by $5000 what will be the effect on total asset?
ARemain constant
BDecrease by $5000
CIncrease by $5000
DIncrease by $10,000
89
Capital of a business decreases if there is an increase in___________?
ADrawings
BIncome
CGains
DFresh capital
90
Capital increases if _________ increases?
AExpenses
BDrawings
CInterest on capital
DRevenue