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Accounts Fundamental MCQ Question with Answer

Accounts Fundamental MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

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Question No : 22
Which of the following events is not a transaction?

Mr. Employer paid salary of Rs.9,000 to Mr. Employee.
Rahul sold his bicycle to Rohan for Rs.600.
Abhijeet gifted a book, priced at Rs.800, to Amit.
None of the above.
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Question No : 23
Choose the odd one out

Wages
Stationery
Sales
Furniture
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Question No : 24
Copyright is an example of

Real Account
Asset
Intangible Asset
All of the above
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Question No : 25
Which of the following equation(s) is(are) true

Assets = Liabilities + Capital
Assets - Capital = Liabilities
Both (a) and (b)
None of the above
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Question No : 26
According to the Concept of Conservatism, an accountant should

Recognize all losses and anticipate no gains
Recognize all gains and anticipate no losses
Recognize and anticipate both gains and losses
Both (b) and (c)
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Question No : 27
Wages and Salaries is a charge against

Trading Account
Profit and Loss Account
Profit and Loss Appropriation Account
Balance Sheet
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Question No : 28
All credit sales are recorded in

Sales Day Book
Sales Credit Book
Sales Day Account
Sales Day Register
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Wanna test your skill? Here are some exams we prepared for you. So if you need to test your skill just attempt any exam from bellow.

Exam Name No. Of Q Link
Accounting set 1 30 Start
Accounting set 2 30 Start
Accounting set 3 30 Start
Accounting set 4 30 Start
Accounting set 5 30 Start
Accounting set 6 30 Start
Accounting set 7 30 Start
Accounting set 8 30 Start
Accounting set 9 30 Start
Accounting set 10 30 Start
Accounting set 11 30 Start
Accounting set 12 30 Start