Financial Accounting

Bills of Exchange MCQs with Answers

Bills of Exchange Mcqs With answers

FOLLOWING ARE MCQs RELATED TO BILLS OF EXCHANGE with Answers 1)  Bill receivable account is a : (A)  Machinery account (B) Personal A/C (C)  Real A/C (D)  None of these [efaccordion id=”01″] [efitems title=”Answer & Explaination” text=”Option C“]  [/efaccordion] 2)  At the time of endorsement of a bill, the drawer credits: (A)  …

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Banking Transactions MCQs with Answers

BANKING TRANSACTIONS MCQS WITH ANSWERS

FOLLOWING  MCQs ARE RELATED TO BANKING TRANSACTIONS WITH ANSWERS 1)  Bank does not issue cheque book on: (A)  Current account (B)  Fixed deposit account (C)  Saving bank account (D) All of the above [efaccordion id=”01″] [efitems title=”Answer” text=”Option B“] [/efaccordion] 2)  Bank issue bank statement on: (A)  Current account (B)  Saving …

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Journal, Ledger and Trial Balance

Ledger-and-Trial-Balance

Word journal is derived from French word “Jour” which means day, Thats’ why it is callled “Day Book”. Business transactions are recorded in journal chronologically. Whereas, in business all accounts have their separate page is called ledger. Finally, Trial Balance is very useful in business. It shows the arithmetical accuracy …

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Accounting Equation MCQs with Answers

accounting-equation

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 …

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Introduction to Accounting MCQs with Answers

introduction-to-accounting-mcqs-www.McqSkillsTest.com

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)  …

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