Accounting MCQs
Practice free Accounting multiple-choice questions with instant answer feedback and step-by-step solutions. Click an option to check yourself, reveal the full explanation, and work through all 3354 questions — no login required.
Question 253medium
Which of the following account will be credited when the goods are purchased on cash?
Question 254medium
Which of the following account will be credited when the goods are purchased on credit from Mr. Ali?
Question 255hard
An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as
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Question 256hard
Documentary evidence, in a specific format used to record the details of a transaction is known as
Question 257hard
Cost incurred for the maintenance of shop is considered as
Question 258hard
Double entry accounting system includes
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Question 259hard
Which of the following financial statements show the financial health of an organisation at a stated point of time?
Question 260hard
The estimated value at which an asset is expected to be sold after the end of its useful life is called
Question 261medium
Which of the following is a selling expense?