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A. Capital
B. Business
C. Drawings
D. All of them
Answer
Answer
A. Capital
Submitted by: Rasool Bux
Accounting Mcqs
A systematic way to maintain the books of accounts is called_________?
A. Accountancy
B. Economics
C. Book Keeping
D. Auditing
Answer
Answer
C. Book Keeping
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An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?
A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping
Answer
Answer
A. Accounting
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The maintenance of accounts in a systematic way is called__________?
A. Accounting
B. Reading
C. Book Keeping
D. Auditing
Answer
Answer
C. Book Keeping
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Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return
Answer
Answer
C. Sales return
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Modern system of book keeping is called______________?
A. Double-entry system
B. American system
C. Single entry system
D. Italic system
Answer
Answer
A. Double-entry system
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The person to whom goods are sold on credit is called___________?
A. Buyer
B. Seller
C. Debtor
D. Creditor
Answer
Answer
C. Debtor
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Double entry means______________?
A. Entry in two sets of books
B. Entry at two ends
C. Entry at two dates
D. Entry for two aspects of the transaction
Answer
Answer
D. Entry for two aspects of the transaction
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Discount received is a/an:
A. Asset
B. Expense
C. Liability
D. Revenue
Answer
Answer
D. Revenue
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Obligation of the Business are known as___________?
A. Liabilities
B. Revenues
C. Expenses
D. Assets
Answer
Answer
A. Liabilities
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