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: Loss from sale of fixed asset is shown under
A) Direct expenses
B) Indirect expenses
C) Liabilities
D) Assets
Q: Capital expenditure leads to
A) Losses
B) Recurring expenses
C) Acquisition of assets
D) Reduction in capital
Q: Drawings in kind are recorded at
A) Book value
B) Purchase price
C) Cost price
D) Market value
Q: Salaries account is classified as
A) Revenue
B) Personal
C) Nominal
D) Real
Q: Debentures are shown under which heading
A) Long-term liability
B) Equity
C) Reserves
D) Current liability