Introduction to Accounting – Multiple Choice Questions – MCQ

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#1. The discount given on cash transactions is called as

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#2. Right side of a ledger account is

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#3. The inventory of goods that remain unused/unsold at the end of the year is called as

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#4. A Building is

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#5. In ________ entry system only one aspect of a business transaction is recorded

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#6. _____________ is the document that certifies the purchase or sale or any other monetary transaction.

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#7. Vouchers are

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#8. ____________ are owned by the business and help in smooth functioning of the business.

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#9. To get the financial results, businesses uses the following process for recording, classifying and summarising all the business transactions.

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#10. In a business, ________ is purchased and sold

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