Accounting MCQ’s for lecturer
(1) The institution Non-trading is for?
a) Manufacturing goods
b) Selling Goods
c) Not to earn a profit
d) All of 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 donot maintain 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 whic subscription received?
a) Liability
b)Capital Fund
c) Asset
d) Income
e) All of the above
(6) in which side admission fee received treated?
a) Capital income
b) Revenue income
c) Partly revenue income
d) None of the above
(7) The payment and receipt acoount 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 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 shown on which side of balance sheet?
a) Credit side
b) Debit side
c) Asset side
d) Liability side
