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Accounting Mcqs

________ is the common base for preparing a trial balance?

  • (A)  Ledger accounts
  • (B)  General Journal
  • (C)  Specialized journals
  • (D)  Balance sheet
Submitted By :Ali Uppal


If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

  • (A)  Yes
  • (B)  No
  • (C)  Transactions can’t be omitted
  • (D)  none of these
Submitted By :Ali Uppal


Trial balance is prepared to check accuracy of_______________?

  • (A)  Ledger accounts balances
  • (B)  Balance sheet balances
  • (C)  Income statement balances
  • (D)  Cash flow statement balances
Submitted By :Ali Uppal


Submitted By :Ali Uppal


Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?

  • (A)  Error of principle
  • (B)  Error of commission
  • (C)  Error of omission
  • (D)  Error of duplication
Submitted By :Ali Uppal


Which of the following is a type of cash receipt journal + cash payment journal?

  • (A)  Bank statement
  • (B)  Statement of cash flow
  • (C)  Cash book
  • (D)  Cash documents
Submitted By :Ali Uppal


Cash received from debtor is recorded in which of the following SPECIALIZED journals?

  • (A)  Purchase journal
  • (B)  Sales journal
  • (C)  Cash receipts
  • (D)  Cash payments journal
Submitted By :Ali Uppal


Sales and purchase journal don’t record__________?

  • (A)  Credit sales
  • (B)  Credit purchases
  • (C)  Credit sales and purchases
  • (D)  Cash sales and purchases
Submitted By :Ali Uppal


Which of the following specialised journals will record “goods returned by the BUSINESS “?

  • (A)  Purchase journal
  • (B)  Sales journal
  • (C)  Purchases return journal
  • (D)  Sales return journal
Submitted By :Ali Uppal


Another name of journal is_____________?

  • (A)  Specialized journal
  • (B)  Day book
  • (C)  Cash book
  • (D)  Record book
Submitted By :Ali Uppal