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.

QUIZ START

#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

Congratulations!

Best of luck for the next time.

You can also check:

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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