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  • Accounting Mcqs Questions | MCQs Bucket

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Here is the MCQs guide for the topic of Accounting. you will find various types of questions along with there answers in this
Q. Which of the following is the normal balance of a rent expense account?
A.
Credit balance
B.
Cash balance
C.
Overdraft
D.
Debit balance


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Q. Which of the following statements is incorrect regarding capital account?
A.
Debit increases the capital account balance
B.
Credit increases the capital account balance
C.
Fresh capital increases the capital account balance
D.
Net income increases the capital account balance


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Q. The normal balance of liability account is____________?
A.
Debit balance
B.
Credit balance
C.
Cash balance
D.
Neither debit nor credit balance


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Q. The normal balance of asset account is____________?
A.
Credit balance
B.
Cash balance
C.
Debit balance
D.
Neither debit nor credit balance


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Q. The normal balance of capital account is_____________?
A.
Credit balance
B.
Debit balance
C.
Cash balance
D.
Neither debit nor credit balance


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Q. If debit balance is greater than creadit balance then the account blance will be__________?
A.
Credit balance
B.
Debit and credit balance
C.
Cash balance
D.
Debit balance


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Q. Which of the following is known as the base for preparing trial balance?
A.
Journal
B.
Cash account
C.
Ledger account
D.
Balance sheet


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Q. _________ will be credited if goods are given as charity?
A.
Cash
B.
Charity
C.
Purchases
D.
Sales


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Q. If debit side of a bank account is greater than credit side it indicates which of the following?
A.
Cash at bank
B.
Bank understatement
C.
Balance overstatement
D.
Bank overdraft


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Q. If credit side of a bank account is greater than the debit side, it indicates which of the following?
A.
Bank overdraft
B.
Cash at bank
C.
Bank balance
D.
Current Asset


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