Accounting MCQ’s for lecturerBy: Prof. Dr. Fazal Rehman | Last updated: May 21, 2025 12 Score: 0 Attempted: 0/12 Subscribe 1. : The institution Non-trading is for? (A) Manufacturing goods (B) Selling goods (C) Not to earn a profit (D) All of the above 2. : A payment and receipt account is for? (A) Balance sheet (B) Profit & loss account (C) Trial balance (D) Cash book 3. : Payment and receipt account is for? (A) Accrued income (B) Capital and revenue receipt and payment (C) Outstanding expenditures (D) All of the above 4. : Which thing is not maintained by non-trading concerns? (A) Payment and receipt account (B) Income and expenditure account (C) Balance sheet (D) Trading Profit and Loss account 5. : In advance which subscription is received? (A) Liability (B) Capital Fund (C) Asset (D) Income 6. : In which side is the admission fee received treated? (A) Capital income (B) Revenue income (C) Partly revenue income (D) None of the above 7. : The payment and receipt account is not for? (A) Summary of cash transaction (B) Real account (C) Nominal account (D) All of the above 8. : The Expenditure and income account start with? (A) Credit balance (B) No balance (C) Debit balance (D) Liabilities 9. : Expenditure and income account is equal to? (A) Profit and loss account (B) Petty cash book (C) Balance sheet (D) All of the above 10. : The money required for a non-profit company day by day is? (A) Capital Fund (B) Liability (C) Income (D) Shares 11. : The Payment and Receipt account starts with? (A) Ending balance (B) Opening balance (C) Trial balance (D) None of the above 12. : The Capital fund is shown on which side of the balance sheet? (A) Credit side (B) Debit side (C) Asset side (D) Liability side Read More MCQs of Accounting SET 1: Accounting MCQ’s SET 2: Accounting MCQ’s SET 3: Accounting MCQ’s SET 4: Accounting MCQ’s SET 5: Accounting MCQ’s SET 6: Accounting MCQ’s SET 7: Accounting MCQ’s SET 8: Accounting MCQ’s More Tutorials of Accounting on T4Tutorials Related Posts:Accounting MCQ's for lectureshipAccounting MCQs Latest book EditionFinancial Accounting Information System Project in PHP or ASP.NETPast Papers of Managerial AccountingAccounting Research Topics for thesisBasic Financial Accounting Past Papers