Accounting Mcqs

Q.  _________ is the first phase of accounting cycle?

a. Identifying an economic event or transaction
b. Preparing journals
c. Posting entries to ledger accounts
d. Making decisions about business


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MCQs:  An account records the ___________ in the balance of an item?
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MCQs:  If credit side of a bank account is greater than the debit side, it indicates which of the following?
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MCQs:  If debit side of a bank account is greater than credit side it indicates which of the following?
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MCQs:  _________ will be credited if goods are given as charity?
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MCQs:  Which of the following is known as the base for preparing trial balance?
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MCQs:  If debit balance is greater than creadit balance then the account blance will be__________?
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MCQs:  The normal balance of capital account is_____________?
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MCQs:  The normal balance of asset account is____________?
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MCQs:  The normal balance of liability account is____________?
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MCQs:  Which of the following statements is incorrect regarding capital account?
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MCQs:  Which of the following is the normal balance of a rent expense account?
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MCQs:  Revenue and expense accounts are referred as______________?
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MCQs:  The real accounts are accounts of Assets, liabilities and ___________?
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MCQs:  Building account is classified as _________ account?
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MCQs:  Office equipments account is classified as _________ account?
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MCQs:  ___________ helps business to classify transactions according to their nature?
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MCQs:  Which of the following is a real account?
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MCQs:  Which of the following accounts are closed at the end of an accounting period?
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MCQs:  Which of the following is the closing balance of a ledger account?
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MCQs:  The Basic accounting equation is___________?
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