- 4
- 5
- 6
- 7
- a
-
Cash Purchase
Credit Purchase
Purchase Return
Purchase Discount
Accounting MCQs
Accounting MCQs are included in this portion of ETEST Website.All Accounting MCQs are solved with short detail. ETEST Team updates ETEST Website on daily basis.
Any legal activity which is done for earning profit is called:
- Risk
- Business
- Asset
- Drawings
- b
A financial dealing between two person is called:
- Business
- Transaction
- Liability
- None of the above
- b
-
There are two types of transactions which are:
Cash Transaction
Credit Transaction
Which of the following business type has longest life time?
- Sole Proprietorship
- Joint Stock Company
- Partnership
- All of the given options
- b
-
A joint stock company can sale or purchase shares to shareholders easily without hard rules. Shareholders can also transfer shares from one entity to other easily.
Wages are Paid For:
- Long term period
- All of the given options
- Short term period
- None of these
- c
-
Wages and Salaries are Liabilities of Organization / Company.
Double Entry Book-Keeping was fathered by:
- Murphy Smith
- Henry Fayol
- Luca Pacioli
- F.W. Taylor
- c
-
Luca Pacioli published first book on Double Entry System in 1494.
The art of recording, classifying and summarizing in a specific manner is called:
- Accounting
- Liability
- Budgeting
- None of these
- a
A system in which a fixed amount is given to Cashier for the monthly expense is called ……
- Loan
- Imprest System
- Barter System
- Credit System
- b
-
The Imprest is a professional term.
How many types of Interests?
- 02
- 03
- 04
- 05
- a
-
Banks often use 2 types of interests, which are :
Simple Interest
Compound Interest
Public Company has minimum …. Members.
- 7
- 8
- 9
- 10
- a
-
Public Company is also called Limited Company.
There are minimum seven member sin Public Company and no limit for maximum members/ partners.
The audit of Public Limited Company is Compulsory.