Bank Reconciliation Statement – MCQs with Answers Bank Reconciliation Statement is very helpful tool for businesses to keep a check on their finacial transactions with banks.  we simply define it as ” A summary of banking and business activity that reconciles an entity’s bank account with its financial records. The …

Accounting Equation : It is very important and beneficial tool for management. we can define it in these words “The expression of the equality of an entity’s Assets with the claim against them is referred to as the Accounting Equation. The financial position of a business can be checked in …

Introduction to Accounting MCQs with Answers – Test Your Mcqs Skills 1)  A  written evidence in supporting business dealing is called: (A)  Business document (B)  Business letter (C)  Voucher (D)  Financial statement Answer: Option C 2)  Creditors are also known as: (A)  Notes payable (B)  Accounts Receivable (C)  Notes payable (D)  …