Accounting MCQs
Accounting MCQs help students and professionals master financial, cost, and managerial accounting, covering topics like journal entries, financial statements, and ratios—ideal for certifications, competitive exams, and business studies to boost skills and exam performance.
Q: Prepaid rent is included in
A) Fixed assets
B) Equity
C) Current liabilities
D) Current assets
Q: Opening stock appears in
A) Trading account only
B) Balance sheet only
C) Trading and balance sheet
D) Profit and loss account
Q: Accounting equation is based on
A) Capital = Assets – Liabilities
B) Assets = Liabilities + Capital
C) Assets = Liabilities – Capital
D) Liabilities = Assets + Capital
Q: Income received in advance is treated as
A) Expense
B) Asset
C) Liability
D) Profit
Q: Goodwill is classified as
A) Current liability
B) Intangible asset
C) Tangible asset
D) Fixed liability