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: Accounts payable belong to which class
A) Expenses
B) Income
C) Liabilities
D) Assets
Q: Discount received is recorded as
A) Income
B) Asset
C) Expense
D) Liability
Q: Bad debts recovered are shown as
A) Loss
B) Income
C) Expense
D) Asset
Q: Inventory is considered as part of
A) Fixed assets
B) Current assets
C) Liabilities
D) Equity
Q: Freight paid on goods purchased is added to
A) Closing stock
B) Capital account
C) Revenue
D) Cost of goods purchased