Category: Accounting Mcqs

A. Cash
B. Equipment
C. Debtors
D. Creditors

A. Credit purchase of fixed assets
B. Return of goods
C. All such transactions for which no special journal has been kept by the business
D. None of these

A. Analyzing
B. Preparing financial statements
C. Recording financial information
D. Auditing the books of accounts

A. Shown as a deduction from contract work-in-progress on asset side
B. Shown as a liability
C. Credited to P&L A/c
D. Either A. or B. above

A. Results of operations for a particular period
B. Financial position during a particular period
C. Profit earning capacity for a particular period
D. Financial position as on a particular date

A. Ledger
B. T account
C. Day book
D. Cash book