Accounting MCQs
Accounting MCQs are designed to help students and professionals reinforce their knowledge in financial accounting, cost accounting, and managerial accounting. This section covers core topics such as journal entries, ledger posting, trial balance, financial statements, ratio analysis, depreciation, and accounting standards. Whether you're preparing for professional certifications like ACCA, CA, or CMA, or sitting for competitive exams such as PPSC, FPSC, NTS, and bank recruitment tests, these MCQs provide a solid foundation. They're also useful for B.Com, BBA, and MBA students looking to enhance their conceptual clarity and problem-solving abilities. With real-world scenarios and exam-oriented questions, these MCQs make accounting easier to understand and apply. Practice regularly to boost your analytical skills and exam performance.
Q: Bank reconciliation statement matches company records with
A) Sales register
B) Trial balance
C) Purchase ledger
D) Bank statement
Q: Goods withdrawn by owner for personal use are treated as
A) Drawings
B) Asset
C) Income
D) Reserve
Q: Primary objective of financial accounting is to
A) Provide financial information
B) Reduce taxes
C) Conduct audits
D) Record employee data
Q: Indirect expenses appear on which financial statement
A) Trial balance
B) Cash flow statement
C) Balance sheet
D) Profit and loss account
Q: Loss due to theft is recorded under which head
A) Income
B) Asset
C) Expense
D) Liability
Q: Carriage inward is considered as part of
A) Indirect income
B) Fixed asset
C) Operating income
D) Direct expense
Q: Sundry debtors represent the amount
A) Receivable from customers
B) Owed by suppliers
C) Payable to customers
D) Collected from banks
Q: Provision for doubtful debts is created to cover
A) Future profits
B) Loan repayments
C) Capital loss
D) Possible bad debts
Q: Trade discount is shown in which book
A) Profit and loss
B) Not recorded
C) Balance sheet
D) Ledger
Q: Goods purchased for cash are entered in
A) Purchase return book
B) Sales book
C) Journal proper
D) Cash book