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Complete Mock test on Accountancy, focusing on financial statements, bookkeeping, taxation, and practical applications in accounting.
Duration
30 min
Questions
30
Marking
Negative
Which of the following is NOT a subfield of accounting?
Which type of asset is Goodwill considered?
Which term refers to money or goods withdrawn by the owner from the business?
Who are internal users of accounting information?
Which of the following is a fictitious asset?
Accounting is often referred to as the:
Which of the following is an example of an external liability?
Which type of account is 'Sales Account'?
The basic accounting equation is:
Book-keeping involves:
Which of the following is NOT a basic term in accounting?
Which phase of accounting involves interpreting financial data?
Which is a current asset?
Capital introduced by the owner is treated as a/an:
The full set of steps in accounting is called the:
Which one is a tangible fixed asset?
Which of the following users rely on accounting for tax purposes?
Which of these best describes management accounting?
Which of the following is a long-term liability?
Which type of account is Capital?
Which document serves as evidence of a transaction?
Which of the following terms refers to goods bought for resale?
Which is NOT a characteristic of an expense?
Revenue is recognized when:
Accounting helps in:
Which is a wasting asset?
Trade Creditors are shown as:
Which of the following best defines 'Event' in accounting?
Trade Debtors are:
Accountancy refers to: