Accounting MCQ’s for lecturer

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

Answer - Click Here:
C

 

(2) A payment and receipt account is for?

a) Balance sheet

b) Profit & loss account

c) Trial balance

d) Cash book

Answer - Click Here:
D
(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
Answer - Click Here:
B
(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
Answer - Click Here:
D
(5) In advance whic subscription received?
a) Liability
b)Capital Fund
c) Asset
d) Income
e) All of the above
Answer - Click Here:
A
(6) in which side admission fee received treated?
a) Capital income
b) Revenue income
c) Partly revenue income
d) None of the above
Answer - Click Here:
B
(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
Answer - Click Here:
C
(8) The Expenditure and income account start with?
a) Credit balance
b) No balance
c) Debit balance
d) Liabilities
Answer - Click Here:
B
(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
Answer - Click Here:
A
(10) The money required for Non-profit company day by day is ?
a) Capital Fund
b) Liability
c) Income’
d) Shares
Answer - Click Here:
A
(11)  The Payment and Receipt account starts with?
a) Ending balance
b) opening balance
c) Trial balance
d) None of the above
Answer - Click Here:
B
(12) the Capital fund shown on which side of balance sheet?
a) Credit side
b) Debit side
c) Asset side
d) Liability side
Answer - Click Here:
D
Commerce Repeated MCQs book download pdf

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Prof. Fazal Rehman Shamil
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