11th Principles of Accounting MCQS Chapter 1

Google Ads1

11th Principles of Accounting MCQS

Accounting records of a business enterprise are required by
all of the above
none of the above
management of the business

A bill of exchange contains:
An unconditional order
A request
A conditional order
A promise

The act result of the business activities is shown by:
Balance sheet
Profit and loss account
Profit  and loss appropriation account
Trading account

How many categories of accounts are

Ahmad’s account is an example of
personal A/c
none of these
real account
nominal account

An expenditure incurred to the increases the profit earning of the concern is a:
Capital receipt
Current expenditure
Capital expenditure
Revenue expenditure

Expenses paid by a business decrease
cash & capital
none of these

The effect of drawing on accounting equation is
decrease in assets and increase in capital
decrease in assets and decrease in liabilities
increase in both assets & liabilities
none of these

When cash is paid to creditors it will decrease
cash & creditors

Disagreement in balances may arise owing to mistake or mistakes in the:
Cash book or bank statement
Cash book only
Bank statement
Bank column of the cash book only

Continue Reading Go to Next Page

Google Ads