11th Principles of Accounting MCQS Chapter 1

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11th Principles of Accounting MCQS

According to accounting equation, capital is equal to
liabilities – assets
assets + liabilities
assets – liabilities

An expenditure which is incurred again and again is a:
Revenue expenditure
Capital expenditure
Deferred expenditure
Future expenditure

Bookkeeping provides the
secondary information
insufficient information
final information
primary information

All cash purchases and cash sales are recorded in:
Purchases book
Both a & b
Sales book
Cash book

Carriage account is a/an
withdrawal account
expenditure A/c
asset account
revenue account
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