(A) Sole trader
(B) Partnership
(C) Company
(D) All of the above
May 13, 2022
Accounting MCQs
Accounting MCQs for Test Preparation. These Accounting MCQs are the most repeated mcqs and very important for all type of exams organized by FPSC, PPSC, KPSC, SPSC, BPSC, NTS, PTS, OTS, UTS, CTS, ITS and other testing agencies of Pakistan. Most important FPSC MCQs, PPSC MCQs, KPSC MCQs, SPSC MCQs, BPSC MCQs, NTS MCQs, PTS MCQs, OTS MCQs, UTS MCQs, CTS MCQs, ITS MCQs and other MCQs for test preparation in Pakistan.
(A) Appropriation of profit among partners
(B) Income of the partnership firm
(C) Expense to partnership firm
(D) None of the above
May 13, 2022
(A) Salary
(B) Drawings
(C) Share of profit
(D) Interest on capital
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(A) Credited to capital accounts
(B) Debited to capital accounts
(C) Debited to partners’ current accounts
(D) Credited to partners’ current accounts
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(A) The Profit and Loss Account
(B) A Nominal Account
(C) The Capital Account
(D) A Suspense Account
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(A) No entries made at all in the general ledger for items paid by petty cash
(B) The same number of entries in the general ledger
(C) Fewer entries made in the general ledger
(D) More entries made in the general ledger
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(A) Debit Drawings Account, Credit Purchases Account
(B) Debit Drawings Account: Credit Stock Account
(C) Debit Sales Account: Credit Stock Account
(D) Debit Purchases Account: Credit Drawings Account
May 13, 2022
(A) Simply deducted from the asset in the Balance Sheet
(B) Transferred to Profit and Loss Account
(C) Transferred to the Asset Account
(D) Transferred to Depreciation Account
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(A) Discounts received
(B) Purchases invoices
(C) Payments to suppliers
(D) Trade discounts
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(A) The Cash Book
(B) The Purchases Journal
(C) The Sales Journal
(D) The Sales Account
May 13, 2022