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A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
Answer
Answer
B. Purchase return
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Accounting Mcqs
The systems of accounting are _____________?
A. Two
B. Three
C. Five
D. Six
Answer
Answer
A. Two
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For the business, capital is ____________?
A. Expense
B. Liability
C. Assets
D. All of them
Answer
Answer
B. Liability
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When owner withdraw cash for its private use, it is called ___________?
A. Profit
B. Income
C. Expense
D. Drawing
Answer
Answer
D. Drawing
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Assets having physical existence are called ___________?
A. Current asset
B. intangible asset
C. Tangible asset
D. Liquid asset
Answer
Answer
C. Tangible asset
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The assets which have some market value are called ____________?
A. Fixed asset
B. Quick asset
C. Fictitious assets
D. Real assets
Answer
Answer
D. Real assets
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The assets which come into existence upon the happening of a certain event are called__________?
A. Contingent assets
B. Fixed assets
C. Fictitious assets
D. Quick assets
Answer
Answer
A. Contingent assets
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Income earned but not received is called ____________?
A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
Answer
Answer
D. Outstanding asset
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Debts which are payable in the course of a month are called _____________?
A. External liabilities
B. Fixed liabilities
C. Current liabilities
D. Liquid Liabilities
Answer
Answer
C. Current liabilities
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The unsold goods are ___?
A. Equity
B. Sale return
C. Inventory
D. Purchases
Answer
Answer
C. Inventory
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