Accounting Mcqs

Q.  _________ will be credited if goods are given as charity?

a. Cash
b. Charity
c. Purchases
d. Sales


ANSWER: See Answer
 
No explanation is available for this question!
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MCQs:  If the total liabilities of a business decrease by $5000 what will be the effect on total asset? (assuming the amount of capital remain same)
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MCQs:  If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
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MCQs:  Net income equal to Revenues minus____________?
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MCQs:  Collection of account receivable will
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MCQs:  Payment of expenses will ______ the assets
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MCQs:  Which of the following is the practical implementation of the accounting equation?
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MCQs:  Which of the following accounting equation is correct?
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MCQs:  Fresh capital introduction will increase____________?
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MCQs:  Cash received for services rendered will______________?
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MCQs:  Which of following best describes the increase in equity expands___________?
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MCQs:  If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
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MCQs:  Depreciation decreases____________?
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MCQs:  An increase in provision for bad debt will____________?
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MCQs:  Current assets – Current liabilities=?
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MCQs:  Assets-Liabilities=____________?
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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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