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26. A bank overdraft is shown as a/an _____ balance in the bank statement.
(A) debit
(B) credit
(C) credit – debit
(D) none of these

27. Which from the following is included in the cost of purchases?
(A) Abnormal loss
(B) Freight in
(C) Rent of store
(D) Administrative Salaries

28. Cheques issued but not presented, cause the bank statement balance to be ________  the cash book balance.
(A) greater than
(B) less than
(C) equal to
(D) the two statements are irrelevant

29. The capital of a business is $100,000 and the liabilities are $40,000. What are the total assets?
(A) $40,000
(B) $60,000
(C) $100,000
(D) $140,000

30. Any transaction which cannot be recorded in any book of prime entry is recorded in
(A) Cash book
(B) Petty cash book
(C) General journal
(D) Day books

ANSWERS: ACCOUNTING MCQ
26. (A) debit
27. (B) Freight in
28. (A) greater
29. (D) $140,000
30. (C) General journal

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