Category: Accounting Mcqs

The normal balance of asset account is____________?

Hamad Ledger 20/11/2021

A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance

X draws a Bill of Exchange on Y for 10,000 on 1-1-2013 for 3 months. The due date of the bill will be_________?

Hamad Accounting Mcqs 19/11/2021

A. 4-4-2013
B. 3-4-2013
C. 1-4-2013
D. 31-3-2013

Collection of account receivable will

Hamad Accounting Mcqs 17/11/2021

A. Increase assets and decrease assets
B. Increase assets and decrease liabilities
C. Increase assets and increase capital
D. Increase assets and increase cash

The most common imprest system is the ________ system?

Hamad CASH BOOK MCQS 15/11/2021

A. Petty cash
B. Cash book
C. Cash receipt
D. Discount

Assets-Liabilities=____________?

Hamad Accounting Mcqs 11/11/2021

A. Cash
B. Equity
C. Net income
D. Net expenses

Debit note is the basis for recording a transaction in which of the following journals?

Hamad Accounting Mcqs 04/11/2021

A. General journal
B. Cash journal
C. Purchase journal
D. Purchase return journal
(more…)

Which of the following statements are / is true? – Events after Balance Sheet are?

Hamad Accounting Mcqs 31/10/2021

A. All the significant events after the Balance Sheet date
B. The events after Balance Sheet date but before submitting it to the Registrar of Companies
C. The events after Balance Sheet date but before its approval by the board
D. All changes after Balance Sheet date before its approval