Accounting Practice MCQ Page 40
Multiple Choice questions for Accounting in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 3912 The totals of the sales day book are transferred to the
- debit side of the sales account
- credit side of the sales account
- debit side of the sales control account
- journal proper
Question: 3914 The totals of the purchase returns day books are transferred to the
- debit side of the returns inwards account
- debit side of the returns out wards account
- credit side of the returns inwards account
- credit side of the returns outwards account
Question: 3916 which one of the following is centered in the journal proper?
- purchases and returns of stock
- sales and returns of stock
- cash transactions
- opening entries of a new business
Question: 4032 which one of the following is entered in the journal proper?
- purchase of fixed assets for cash
- purchase of fixed assets on credit
- purchase of stock on credit
- purchase of stock for cash
Question: 4035 which one of the following is entered in the journal proper?
- The sale of an asset for cash
- The withdrawal of cash for private use
- cash discount given to a customer
- The correction of errors made in the ledger
Question: 4037 An entry in the journal should include
- the name of the account to be debited
- the name of the account to be credited
- A description of the transaction
Question: 4040 A trial balance is
- a balance of the bank account
- The balance of the bank account
- a rough draft of the final accounts
- a list of the balances in the ledger
Question: 4043 The main purposes of a trial balance is to
- help balance the bank account
- check the arithmetical accuracy of the double entry
- help check the arithmetical accuracy of the double entry
- help check the bank account with the bank statement
Question: 4046 select yore answer by means of the following code
- if 1, 2 and 3 are correct
- if 1 and 2 only are correct
- if only 1 is correct
- if only 3 is correct
Question: 4051 which of the following errors would normally be revealed by a trial balance?
- A transaction is completely omitted from the books
- A sale to smith brothers is entered in smith and Co.Ltd. account
- A purchase of stock for resale has been entered in an asset account
- The sale of an asset has only been entered on one side of the books
Question: 4055 A suspense account is opined when the
- trading account does not balance
- profit and loss account does not balance
- trial balance does not balance
- bank account does not balance
Question: 4059 select your answer by means of the following code
- if 1, 2 and 3 are correct
- if 1 and 2 only are correct
- if only 1 is correct
- if only 3 is correct
Answers to the questions of Accounting on this page
Following list gives the correct choice for the answer of the Accounting mcqs.
3912 . B
3914 . D
3916 . D
4032 . B
4035 . D
4037 . A
4040 . D
4043 . C
4046 . A
4051 . D
4055 . C
4059 . D
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MCQ for Practicing Subject Tests