Accounting Quiz-06 (Mixed)

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Quiz TypeTotal MCQTotal Time 
MCQ2510 Minutes
Created on By admin
Accounting Quiz-06 (Mixed)

Accounting Quiz-06 (Mixed)

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1 / 25

Which of the following is not a qualitative characteristic of a Financial Statement?

2 / 25

Which of the following account is closed at the end of the accounting year?


3 / 25

Which of the following event is not an example of a transaction?


4 / 25

Which of the following transaction does not affect Owners’ equity?


5 / 25

Who is the internal user of accounting information?


6 / 25

Normally, which of these accounts have a credit balance?


7 / 25

"Balance Sheet" is a


8 / 25

The main feature of bookkeeping is


9 / 25

Which of the following is not a step in the accounting process?


10 / 25

"Income Tax" is a

11 / 25

The word “Debit and Credit” have been originated from which language?

12 / 25

Full-Form of “AAA”


13 / 25

If the goods sold on credit are returned from the buyer, the book usually is written:


14 / 25

“Received from Finch as a loan” Identify the correct journal entry


15 / 25

Which entry will be provided for opening stock?


16 / 25

Purchased Stationery including VAT 15%, Debit will be


17 / 25

Fixed assets are shown in the balance sheet according to


18 / 25

Which of the following is a deferred revenue expenditure?

19 / 25

“Entity Principle” means


20 / 25

Which of the following account is written on the credit side of the Trial Balance?

21 / 25

Bad debts reserve is a


22 / 25

Which of the following account is not included in the post-closing trial balance?


23 / 25

"Unearned Revenue" is a


24 / 25

Depreciation is a process of cost allocation for which?


25 / 25

Which of the following accounts are included in the profit and loss statement?


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