431 MCQ Questions in english हिन्दी

Share:

Find the odd one out: 36, 49, 64, 81, 90

All numbers except 90 are perfect squares: 6² = 36, 7² = 49, 8² = 64, 9² = 81. 90 is not a perfect square, hence the odd one.

What is the default file extension of MS Word 2016 documents?

Since Word 2007, the default extension is .docx (XML-based).

Which document is issued when goods are returned to the supplier?

A Debit Note is sent to the supplier when goods purchased are returned.

In accounting, drawings are always:

Drawings reduce capital, so it's debited.

Cash withdrawn from bank is entered in:

Cash increases (Debit), Bank decreases (Credit).

banner ad

Which is not a branch of accounting?

Political Accounting is not a recognized branch of accounting.

Which of the following is a fictitious asset?

Fictitious assets have no physical existence, like preliminary expenses.

Amount owed by the business to outsiders is:

Liabilities are dues payable to third parties (e.g., creditors, loans).

Which account is not shown in Balance Sheet?

Sales appears in Profit & Loss A/c, not Balance Sheet.

Which of these has a debit balance?

Rent Paid is an expense, so it has a debit balance.

Cash deposited into bank is:

This is a contra entry – one asset increases, another decreases.

Trade Discount is:

Trade Discount is a reduction before sale is recorded – it’s not entered in books.

banner ad

Which concept assumes that business will continue indefinitely?

Going Concern means business is expected to operate for a long time.

. The accounting cycle begins with:

Journal Entry is the first step in the accounting process.

. Which of these is not a current asset?

Machinery is a fixed asset, not current.

Suspense account is opened when:

Temporary account used to match trial balance.

Which of the following is a capital receipt?

Capital receipt = not regular income, but long-term source like loans.

Income & Expenditure Account is prepared by:

Non-trading organizations use Income & Expenditure A/c instead of P&L.

. The credit balance in Passbook indicates:

Bank Passbook Credit = more balance in your favor.

banner ad

GST is a type of:

GST (Goods & Services Tax) is an indirect tax.

Ledger Folio is:

Ledger Folio (L.F.) column refers to page no. in Ledger.

When goods are sold on credit, it affects:

Credit Sale: Debtors (Dr), Sales (Cr)

Drawing means:

Drawing = cash or goods taken by owner for personal use.

What type of account is 'Loan Taken'?

Loans taken are liabilities payable in future.

Capital introduced is recorded in:

Capital A/c reflects the owner’s investment in the business.

Ledger is a book of:

Journal is the book of original entry, ledger is the book of final entry.

banner ad

What is Bookkeeping?

Bookkeeping is basic accounting — recording daily transactions.

Which is not a revenue expenditure?

Buying furniture is a capital expenditure.

×
Subscribe now

for Latest Updates

Articles, Jobs, MCQ and many more!