Accountancy Class 10th Quiz 1.2

By Manoj Yadav / 08/02/2026

Accountancy Class 10th Quiz 1.2

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Accountancy

Accountancy Class 10th Quiz 1.2

Accountancy quiz helps us to increase our knowledge

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1. Final accounts include—

A. Trading A/c

B. Profit & Loss A/c

C. Balance Sheet

D. All

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2. Furniture is shown in—

A. Trading A/c

B. Balance Sheet

C. P&L A/c

D. None

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3. If debit side > credit side, it is—

A. Profit

B. Loss

C. Debit balance

D. Capital

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4. Suspense account is opened when—

A. Ledger ends

B. Journal ends

C. Trial balance disagrees

D. Trial balance agrees

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5. Rent paid is shown in—

A. Balance Sheet

B. Trading A/c

C. P&L A/c

D. Journal

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6. Purchases appear in—

A. Trading A/c

B. P&L A/c

C. Balance Sheet

D. Journal

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7. If credit side > debit side, it is—

A. Asset

B. Credit balance

C. Expense

D. Loss

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8. Which error is not disclosed by trial balance?

A. Compensating error

B. Posting error

C. Mathematical error

D. Casting error

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9. Net Profit =

A. Gross Profit – Expenses

B. Income – Capital

C. Assets – Liabilities

D. Sales – Purchases

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10. Which method gives equal depreciation each year?

A. Straight Line Method

B. WDV

C. Revaluation

D. Annuity

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11. Closing stock appears in—

A. Trading A/c

B. P&L A/c

C. Balance Sheet

D. Both a & c

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12. If both sides of trial balance are equal, it means—

A. Some errors may still exist

B. Profit

C. Loss

D. No error

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13. What does trial balance check?

A. Arithmetic accuracy

B. Goods quality

C. Cash balance only

D. Profit/Loss

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14. Depreciation is charged on—

A. Land

B. Goodwill

C. Salary

D. Building

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15. Trial balance shows—

A. Profit

B. Loss

C. Debit/Credit totals

D. Cash balance

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16. Wrong amount posted is—

A. Omission error

B. Consistency error

C. Error

D. Commission error

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17. Error of omission means—

A. Fully left out

B. Recorded twice

C. Recorded wrongly

D. Misposted

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18. Gross Profit =

A. Sales – Purchases

B. Sales – COGS

C. Assets – Liabilities

D. Income – Expense

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19. Error of commission means—

A. Wrong account

B. Not recorded

C. Double entry

D. Capitalized

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20. Depreciation is—

A. Increase in value

B. Decrease in value

C. Profit

D. Loss

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Accountancy Class 10th Quiz 1.2

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