Business Accounting MCQs
G
Q 1. What comes in is to be debited, what goes out is to be credited.
P
Q 2. Debit the receiver credit the giver rule for
G
Q 3. The basic sequence in the accounting process can best be described as:
V
Q 4. The transferring of debit and credit items from journal to the respective accounts in the ledger is called as
S
Q 5. A statement containing the various ledgers balances on particular date
S
Q 6. Accounting principles are divided into two types. These are ---
V
Q 7. The purpose of financial accounts is reporting to
V
Q 8. Bookkeeping is a/an……………………of correctly recording of business transition.
G
Q 9. All those to whom business owes money are:
R