Accounting MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6

61.
The process of recording transactions in different journals is called

A. Posting

B. Entry making

C. Adjusting

D. Journalising

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62.
Every business transaction affects at least ____ accounts

A. One

B. Two

C. Three

D. Infinite

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63.
Discount allowed is a kind of deduction from

A. Account Payable

B. Account Receivable

C. Cash account

D. Discount account

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64.
The other name of Journal is

A. Ledger

B. T account

C. Day Book

D. Cash Book

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65.
The Journal entry in which two or more account is debited or credited is referred to as

A. Journal entry

B. Multi entry

C. Additional entry

D. Compound entry

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Accounting MCQ Questions and Solutions with Explanations | Commerce

61. The process of recording transactions in different journals is called

Answer & Solution

62. Every business transaction affects at least ____ accounts

Answer & Solution

63. Discount allowed is a kind of deduction from

Answer & Solution

64. The other name of Journal is

Answer & Solution

65. The Journal entry in which two or more account is debited or credited is referred to as

Answer & Solution

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61.
The process of recording transactions in different journals is called

62.
Every business transaction affects at least ____ accounts

63.
Discount allowed is a kind of deduction from

64.
The other name of Journal is

65.
The Journal entry in which two or more account is debited or credited is referred to as