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Accounting Mcqs

Discount received is recorded on which of the following side of a cash book?

  • (A)  Receipts
  • (B)  Payments
  • (C)  Incomes
  • (D)  Expenditures
Submitted By :Ali Uppal


Cash book is prepared by____________?

  • (A)  Bank
  • (B)  Accountant of business
  • (C)  Manager of a company
  • (D)  Bank’s cashier
Submitted By :Ali Uppal


Cash book records:______________?

  • (A)  Cash payments
  • (B)  Cash receipts
  • (C)  Cash payments and cash receipts
  • (D)  Neither cash payments nor cash receipts
Submitted By :Ali Uppal


An entry which is made on both sides of a cash book is called__________?

  • (A)  Cash entry
  • (B)  Contra entry
  • (C)  Payment entry
  • (D)  Compound entry
Submitted By :Ali Uppal


$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

  • (A)  $5000 will be credited
  • (B)  $5000 will be debited
  • (C)  $10,000 will be credited
  • (D)  $10,000 will be debited
Submitted By :Ali Uppal


A cash book with cash, bank and discount column is commonly referred as________?

  • (A)  Cash book
  • (B)  Two columns cash book
  • (C)  Three columns cash book
  • (D)  Petty cash book
Submitted By :Ali Uppal


Introduction capital by owner of business is recorded on which side of a cash book?

  • (A)  Receipts
  • (B)  Payments
  • (C)  Incomes
  • (D)  Expenditures
Submitted By :Ali Uppal


Cash discount is allowed on _______ repayment of debt.

  • (A)  Lump sum
  • (B)  Prompt
  • (C)  Actual
  • (D)  None of them
Submitted By :Ali Uppal


Payment of rent expenses is recorded on which side of cash book?

  • (A)  Receipts
  • (B)  Payments
  • (C)  Income
  • (D)  Expense
Submitted By :Ali Uppal


Submitted By :Ali Uppal