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: Closing stock is adjusted in the final accounts through
A) Profit and loss only
B) Cash book
C) Trading and balance sheet
D) Ledger only
Q: Purchase return reduces the value of
A) Assets
B) Expenses
C) Sales
D) Purchases
Q: Partnership deed outlines terms related to
A) Dividend payment
B) Customer data
C) Shareholding
D) Partner roles
Q: Wages paid for installation of machinery are treated as
A) Capital expenditure
B) Revenue expense
C) Operating expense
D) Miscellaneous expense
Q: Drawings are deducted from
A) Capital
B) Gross profit
C) Sales
D) Revenue