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    Accounting Mcqs For PPSC

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    izhar_buneri
    The document contains 20 multiple choice accounting questions about topics like petty cash, cash books, cash receipts, cash payments, bank reconciliations, and more. It is a set of sample questions to help prepare for accounting exams for positions like those with PPSC and FPSC in Pakistan. The questions are followed by the answers to check understanding.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Accounting Mcqs For PPSC

    Uploaded by

    izhar_buneri
    929 views5 pages
    The document contains 20 multiple choice accounting questions about topics like petty cash, cash books, cash receipts, cash payments, bank reconciliations, and more. It is a set of sample questions to help prepare for accounting exams for positions like those with PPSC and FPSC in Pakistan. The questions are followed by the answers to check understanding.

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    Accounting Mcqs for PPSC.docx

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    The document contains 20 multiple choice accounting questions about topics like petty cash, cash books, cash receipts, cash payments, bank reconciliations, and more. It is a set of sample questions to help prepare for accounting exams for positions like those with PPSC and FPSC in Pakistan. The questions are followed by the answers to check understanding.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    929 views5 pages

    Accounting Mcqs For PPSC

    Uploaded by

    izhar_buneri
    The document contains 20 multiple choice accounting questions about topics like petty cash, cash books, cash receipts, cash payments, bank reconciliations, and more. It is a set of sample questions to help prepare for accounting exams for positions like those with PPSC and FPSC in Pakistan. The questions are followed by the answers to check understanding.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Accounting Mcqs for PPSC,FPSC,NTS Written Test Preparation

    Postby mnadeemanwar19 Tue Feb 17, 2015 4:56 pm


    Accounting Mcqs for PPSC,FPSC,NTS Written Test Preparation
    1)The closing balance of petty cash book is considered as
    A) Liability
    B) Asset
    C) Expenses
    D) Income
    2)Payment of rent expenses is recorded on which side of cash book?
    A) Receipts
    B) Payments
    C) Income
    D) Expense
    3)An entry which is made on both sides of a cash book is called
    A) Cash entry
    B) Contra entry
    C) Payment entry
    D) Compound entry
    4)A cash book with cash, bank and discount column is commonly referred as
    A) Cash book
    B) Two columns cash book
    C) Three columns cash book
    D) Petty cash book
    5)Cash book records

    A) Cash payments
    B) Cash receipts
    C) Cash payments and cash receipts
    D) Neither cash payments nor cash receipts
    6)Cash discount is allowed on _______ repayment of debt
    A) Lump sum
    B) Prompt
    C) Actual
    D) None of them
    7)Cash book is prepared by
    A) Bank
    B) Accountant of business
    C) Manager of a company
    D) Bank's cashier
    8)The most common imprest system is the ________ system
    A) petty cash
    B) Cash book
    C) Cash receipt
    D) Discount
    9)Discount received is recorded on which of the following side of a cash book?
    A) Receipts
    B) Payments
    C) Incomes
    D) Expenditures

    10)Drawings by owner of business are generally recorded on which of the


    following side of a cash book?
    A) Receipts
    B) Payments
    C) Incomes
    D) Expenditures
    11)Introduction capital by owner of business is recorded on which side of a cash
    book?
    A) Receipts
    B) Payments
    C) Incomes
    D) Expenditures
    12)Cash book with cash and discount column is mostly referred as
    A) Simple cash book
    B) Two column cash book
    C) Three column cash book
    D) Petty cash book
    13)A cash book that is used to record the small payments of cash is generally
    referred as
    A) Simple cash book
    B) Two column cash book
    C) Three column cash book
    D) Petty cash book
    14)A simple or one column cash book usually has which of the following main
    columns?
    A) Bank

    B) Payments
    C) Discount
    D) Cash
    15)Purchase of office equipment for cash will be recorded on which of the
    following sides of a cash book?
    A) Receipts
    B) Payments
    C) Incomes
    D) Expenditures
    16)Postdated checks are considered as
    A) Cash
    B) Bank balance
    C) Accounts receivable
    D) Cash reserve
    17)Postage stamps on hand are considered as
    A) Bank
    B) Prepaid expenses
    C) Accounts receivable
    D) Creditor
    18)Petty cash fund is supposed to be replenished
    A) Every day
    B) Every half year
    C) Every year
    D) At the end of every accounting period
    19)Which of the following is generally not the party to a check?

    A) Payee
    B) Payer
    C) Bank
    D) Seller
    20)A credit balance in cash book indicates
    A) Bank balance
    B) Cash at bank
    C) Bank overdraft
    D) Bank underdraft

    Answers:
    1 B 2 B 3 B 4 C 5 C 6 B 7 B 8 A 9 B 10 B 11 A 12 B 13 D 14 D 15
    B 16 C 17 B 18 D 19 D 20 C

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