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: Assets held for resale are treated as
A) Deferred income
B) Current assets
C) Revenue
D) Fixed assets
Q: Salaries outstanding are part of
A) Revenue
B) Expenses
C) Drawings
D) Liabilities
Q: Interest on capital is recorded as
A) Expense in capital account
B) Personal account
C) Profit distribution
D) Fixed liability
Q: Trade receivables comprise
A) Debtors and bills receivable
B) Bank deposits
C) Only suppliers
D) Creditors and debtors
Q: Business assuming indefinite life is part of which concept
A) Money measurement
B) Cost concept
C) Going concern
D) Matching