Commerce MCQ for PPSC FPSC KKPSC BPSC SPSC Practice Test 11

1- When an account represents certain person or person then it is called as:

A). Artificial person’s account

B). Representative personal account✔️

C). Nature person’s account

D). Real Accounts

2- Salary outstanding account relevant to:

A). Representative personal account✔️

B). Artificial person’s account

C). Natural person account

D). Nominal accounts

3- Personal accounts are related to:

A). Assets and liabilities

B). Expenses, losses

C). Customers, creditors etc✔️

D). Incomes

4- Real account are related to:

A). Assets ✔️

B). Expenses, losses and Incomes

C). Customers, creditors

D). Incomes

5- Nominal accounts are related to:

A). Assets and liabilities

B). Expenses, losses and Incomes✔️

C). Customers, creditors etc

D). Capital account

6- The basic rules of Book-keeping debit the receiver and credit the giver ‘ is applicable to:

A). Personal Account✔️

B). Real Account

C). Nominal Account

D). Expense Account

7- The basic rule of book- keeping debit all expenses and loses and credit ‘ all incomes and gains is applicable to:

A). Personal Account

B). Real Account

C). Nominal Account✔️

D). Capital Account

8- Cash account is concerned with:

A). Real Account✔️

B). Personal Account

C). Nominal Account

D). Capital Account

9- Capital account is a kind of:

A). Real account

B). Nominal account

C). Personal account✔️

D). Income account

10-  Mr. Imran account is a kind of:

A). Real Account

B). Personal Account✔️

C). Nominal Account

D). Expense Account

11- Sales account is concerned with:

A). Personal Account

B). Real Account

C). Nominal Account✔️

D). Expense Account

12- Rent account is a kind of:

A). Real Account

B). Personal Account

C). Nominal Account✔️

D). Capital Account

13- Machinery account is concerned with:

A). Real Account✔️

B). Personal Account

C). Nominal Account

D). Expense Account

14- Profits and losses are recorded by:

A). Personal Account

B). Real Account

C). Nominal Account✔️

D). Machinery Account

15- Every transaction has:

A). Single aspect

B). Dual aspect✔️

C). Triple aspect

D). None of the above

16- The money with which business is started is known as:

A). Capital✔️

B). Creditor

C). Income

D). Debtor

17-  The person who owes money is:

A). A creditor

B). A debtor✔️

C). An owner

D). Agent

18- The person to whom money is owned is:

A). A creditor✔️

B).A debtor

C). An owner

D). Agent

19- The books of account in which business transactions are originally recorded in chronological order are:

A). Ledger

B). Journal✔️

C). Trial Balance

D). Balance sheet

20- The act of recording each transaction in the journal is called:

A). Journalizing✔️

B). Posting

C). Journal folio or folioing

D). Ledger

21- Journal shows all necessary information regarding:

A). The document

B). A transaction✔️

C). The accounting

D). Meeting

22- Transaction are recorded chronologically so, journal is called:

A). Entry book

B). Transaction book

C). Chronological book✔️

D). Voucher

23- A transaction is recorded on the same day it takes place so, journal is also called:

A). A day book✔️

B). A history book

C). An entry book

D). Ledger book

24-  Narration is always written:

A). Above each entry

B). Below each entry✔️

C). Between of each entry

D). None of the above

25- A journal is generally kept on:

A). A columnar basis✔️

B). A row basis

C). A single line basis

D). Vertical basis

Useful Links:-

Lecturer Commerce Online Tests

One Paper MCQs for PPSC FPSC KKPSC BPSC SPSC AJKPSC NTS

Leave a comment

Your email address will not be published.