Accounting Mcqs

Page No. 37

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


aReceipts


bPayments


cIncomes


dExpenditures


View Answer Payments

Cash book is prepared by____________?


aBank


bAccountant of business


cManager of a company


dBank’s cashier



Cash book records:______________?


aCash payments


bCash receipts


cCash payments and cash receipts


dNeither cash payments nor cash receipts



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


aCash entry


bContra entry


cPayment entry


dCompound entry


View Answer Contra entry

$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



A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book


a$1000 will be added to cash book balance


b$2000 will be deducted from cash book balance


c$3000 will be added to cash book balance


d$3000 will be subtracted from cash book balance



Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.


a$2000


bZero


c$3000


d$2500


View Answer $2000

Favorable balance of bank statement implies that


aCredit balance


bDebit balance


cBank overdraft


dAdjusted balance


View Answer Credit balance

_________ Checks that are presented to bank but not yet credited by the bank.


aUnpresented checks


bUncredited checks


cOutstanding checks


dBounced checks


View Answer Uncredited checks

Which of the following error results in unadjusted cash book balance?


aOutstanding checks


bUnpresented checks


cDeposit in transit


dOmission of Bank charges


View Answer Outstanding checks

Goto Page No.

Page 37 of 71

Alphabetical MCQs Categories

Here below You find all kind of categories of MCQs in alphabetical order.


"Comprehensive Collection of MCQs: Alphabetically Organized by Subject"

"Discover an extensive collection of multiple-choice questions (MCQs) neatly categorized by subject from A to Z. This resource is designed for anyone eager to explore various topics in a straightforward and organized manner. Whether you're a student preparing for exams, an educator seeking supplementary materials, or simply curious about different subjects, this compilation offers a convenient way to learn and assess your knowledge. With questions arranged alphabetically, navigation is effortless, allowing you to delve into subjects of interest at your own pace. Engage, learn, and expand your understanding with this accessible and comprehensive repository of MCQs!"


BolPakistan

bolpakistan.com.pk includes Job Mcqs and Pak Mcqs is the Top Largest Mcqs Forum in World, in which you can read Mcqs of All Subjects, PPSC test preparation, FPSC, NTS and PPSC PAST PAPERS, PPSC PAST MCQS. A Collection of Repeated MCQs for JOBs seekers.

Copyright © 2024, Designed & Developed by BolPakistan