Top 25 MCQ-Account - Accounting Share

Test your accounting knowledge by practicing this “Top 25 MCQ-Account”.

This will certainly help you prepare for any competitive tests, such as a work interview, a school & college accounting test, etc.

Total MCQ:	25
Time:	10 Minutes
Pass Mark:	60 Percent

So let’s get started.

START QUIZ

#1. What is an account?

Statement of total assets

Statement of total liability

Statement of income and expenditure

Statement of classifieds and summarized transactions

#2. Which of the following account has no real existence?

Assets account

Nominal account

Liability account

Personal account

#3. "Provision of depreciation" account is a--

Liability account

Asset account

Contra asset account

Expense account

#4. Which is the main book of accounts?

Trial Balance

Journal

Financial Statement

Ledger

#5. Debit vouchers include –

Income account

expense Account

Asset account

Liability account

#6. How many types of traditional methods of accounts?

2 types

3 types

4 types

5 types

#7. What is called the left and right side of the account?

Income and Expenditure

Liability and Asset

Credit and Debit

Debit and Credit

#8. Which of the following is an example of nominal account?

Pretty Cash

Capital

Purchase Return

Bank Deposit

#9. How many columns are there on each side of the “T” table of accounts?

#10. Unearned Revenue a/c is a –

Income account

Assets account

Expense account

Liability account

#11. "Trademark" is a –

Nominal account

Asset account

Liability account

Expense account

#12. Which of the following is an example of "contra liability account"?

Accounts Payable Discount Account

Drawings Account

Purchase Return Account

Purchase Discount Account

#13. ---has a separate title.

Journal

Transaction

Account

Cash book

#14. General Reserve a/c is a---

Capital account

Liability account

Expenditure account

Asset account

#15. Which is not a liability?

Accrued wages

Unearned revenue

Deferred advertisement

Accounts Payable

#16. Which of the following account is closed at the end of the accounting period?

Asset account

Nominal account

Liability account

Capital account

#17. Drawing a/c is a—

Nominal account

Income and Expenditure account

Asset account

Personal account

#18. VAT Account is an example of

Nominal account

Personal account

Liability account

Asset account

#19. What is the other name of asset account?

Personal account

Impersonal account

Nominal account

Real account

#20. Which increases the capital account?

Income or Profit

Expense or Loss

Drawing

None of these

#21. Prepaid rent a/c is an example of

Personal a/c

Nominal a/c

Real a/c

Liability a/c

#22. Bank Overdraft a/c is an example of

Real account

Drawing account

Asset account

Personal account

#23. Which accounts that have normally credit balances?

Liabilities & Incomes

Assets & Expenses

Capital & Expenses

Incomes & Assets

#24. Which accounts that have normally dedit balances?

Assets & Incomes

Liabilities & Expenses

Capital & Assets

Assets & Expenses

#25. What is the alternative name of the continuous balance method format?

Three Columns Format

Modern Format

Traditional Format

Six Columns Format

Finish

Results

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Keep your spirits up! Failure is just a part of the journey to success. Best of luck for the next time!

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Top 25 MCQ:

#1. What is an account?

#2. Which of the following account has no real existence?

#3. "Provision of depreciation" account is a--

#4. Which is the main book of accounts?

#5. Debit vouchers include –

#6. How many types of traditional methods of accounts?

#7. What is called the left and right side of the account?

#8. Which of the following is an example of nominal account?

#9. How many columns are there on each side of the “T” table of accounts?

#10. Unearned Revenue a/c is a –

#11. "Trademark" is a –

#12. Which of the following is an example of "contra liability account"?

#13. ---has a separate title.

#14. General Reserve a/c is a---

#15. Which is not a liability?

#16. Which of the following account is closed at the end of the accounting period?

#17. Drawing a/c is a—

#18. VAT Account is an example of

#19. What is the other name of asset account?

#20. Which increases the capital account?

#21. Prepaid rent a/c is an example of

#22. Bank Overdraft a/c is an example of

#23. Which accounts that have normally credit balances?

#24. Which accounts that have normally dedit balances?

#25. What is the alternative name of the continuous balance method format?

Results

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