Finance & Accounting
Finance & Accounting MCQs with Answers and Explanations
Finance and accounting MCQs with answers and detailed explanations for NTS, PPSC accounts posts, banking jobs and commerce students. Free online practice. Take a scored quiz instead →
What type of account is ‘Accumulated Depreciation’ on the balance sheet?
ADirect Asset Account
BLiability Account
CContra-Asset Account
DOperating Expense Account
When revenue is collected in advance before goods or services are delivered, it is initially recorded as:
AEarned Revenue
BUnearned Revenue (Liability)
CPrepaid Expense (Asset)
DAccounts Receivable