Accounting MCQS for banking exams
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Wednesday, 23 January 2019
Accounting MCQS
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1 A financial statement that summarizes company revenue and expenses is? (a) Balance sheet (b) Statement of owner equity (c) Income stateme...
Thursday, 11 October 2018
Total depreciation of an asset cannot exceed its:?
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A. Scrap value B. Residual value C. Market value D. Depreciable value
A chart of accounts generally start with which of the following types of accounts??
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A. Assets accounts B. liability accounts C. Cash accounts D. Revenue accounts
Discount for quick repayment of debt is normally referred as____________??
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A. Trade discount B. Prompt payment discount C. Cash discount D. Bulk discount
Which of the following accounts will be credited if a company purchases building for cash??
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A. Capital account B. Fixed assets account C. Building account D. Cash account
Journals are also referred as_____________??
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A. Book of entries B. Book of original entries C. T account D. Books of economic event
Which of the following will be debited if a business purchases goods on credit??
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A. Cash B. Debtor C. Creditor D. Purchases
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