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: Ledger serves which function in accounting
A) Summarizing journal entries
B) Recording original entries
C) Approving transactions
D) Forecasting income
Q: Capital introduced by an owner is categorized as
A) Asset
B) Revenue
C) Equity
D) Liability
Q: Salaries paid in advance are reported as
A) Income
B) Current asset
C) Capital
D) Current liability
Q: Trial balance confirms which aspect of accounts
A) Debits equal credits
B) Profit margin
C) Budget accuracy
D) Compliance
Q: Accrued income is shown as which type of item
A) Expense
B) Liability
C) Asset
D) Revenue