Introduction to accounting – MCQs

Your answer is incorrect. The correct answer is “accounts payable” (option 2).

Your answer is incorrect. The correct answer is “real accounts” (option 2)

Your answer is incorrect. The correct answer is “all of the above” (option 4).

Your answer is incorrect. The correct answer is “voucher” (option 2).

Your answer is incorrect. The correct answer is “trade discount” (option 2).

Your answer is incorrect. The correct answer is “working capital” (option 1).

Your answer is incorrect. The correct answer is “intangible assets” (option 3).

Your answer is incorrect. The correct answer is “entry for two aspects of the transaction” (option 3).

Your answer is incorrect. The correct answer is “accounting” (option 2).

Your answer is incorrect. The correct answer is “liabilities” (option 2).

Your answer is incorrect. The correct answer is “accounting cycle” (option 3).

Your answer is incorrect. The correct answer is “office supplies” (option 2).

Your answer is incorrect. The correct answer is “drawings” (option 1).

Your answer is incorrect. The correct answer is “book-keeping” (option 3).

Your answer is incorrect. The correct answer is “double entry system” (option 4).

Your answer is incorrect. The correct answer is “bad debts” (option 1).

Your answer is incorrect. The correct answer is “balance sheet” (option 2).

Your answer is incorrect. The correct answer is “assets” (option 2).

Your answer is incorrect. The correct answer is “equity” (option 3).

Your answer is incorrect. The correct answer is “journalizing ” (option 2).

Your answer is incorrect. The correct answer is “current assets” (option 3).

Your answer is incorrect. The correct answer is “book-keeping” (option 1).

Your answer is incorrect. The correct answer is “current assets” (option 1).

Your answer is incorrect. The correct answer is “financial accounting” (option 3).

Your answer is incorrect. The correct answer is “resale” (option 1).

Your answer is incorrect. The correct answer is “Sales on account or credit sales” (option 1).