Accounting Mcqs

Q.  Which of the following is the closing balance of a ledger account?

a. Balance c/d
b. Balance b/d
c. Balance e/d
d. Balance f/c


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MCQs:  The process of recording is done?
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MCQs:  General journal is a book of _______ entries?
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MCQs:  The process of recording transactions in different journals is called_________?
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MCQs:  Every business transaction affects at least ________ accounts?
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MCQs:  Discount allowed is a kind of deduction from_____________?
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MCQs:  A journal entry in which two or more account is debited or credited is referred as____________?
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MCQs:  he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
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MCQs:  Goods returned by customer should be debited to which of the following accounts?
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MCQs:  _________ is the evidence that a transaction took place?
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MCQs:  Which of the following will be debited if a business purchases goods on credit?
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MCQs:  Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?
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MCQs:  Journals are also referred as_____________?
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MCQs:  The standard format of journal does not include which of the following?
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MCQs:  In which of the following orders data is entered in journal?
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MCQs:  Which of the following accounts will be credited if a company purchases building for cash?
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MCQs:  Discount for quick repayment of debt is normally referred as____________?
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MCQs:  The first step in accounting process is___________?
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MCQs:  A chart of accounts generally start with which of the following types of accounts?
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