Set 1 MCQ Questions and Answers

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Accounting Multiple Choice Questions and Answers [Pdf Download]: Here learn introduction to financial accounting multiple choice questions and answers and download financial accounting mcqs with answers pdf.

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41) Which is the most important characteristic that all assets of a business have?

42) What is the basic accounting equation?

43) Which of the following is a liability?

44) Which of the following is a liability ?

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45) What is equity?

46) Identify the asset from the following

47) ______ is the withdrawal of cash and goods by the owner of the business for his/her personal use

48) Net loss occurs when

49) Double entry implies that

50) Identify the nominal account

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