Accounting MCQ Questions and Solutions with Explanations

1.
Errors are _____ mistakes

A. Intentional

B. Undetected

C. Unintentional

D. None of the above

A. Wrong totalling of account

B. Compensatory errors

C. Error of commission

D. Wrong balancing of an account

A. Drawer

B. Drawee

C. Payee

D. All of the above

A. To finance actual purchase or sale of goods

B. To facilitate trade transmission

C. To cater the fund requirements of both the parties

D. None of the above

A. Deferred capital expenditure

B. Capital expenditure

C. Revenue expenditure

D. None of the above

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