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Accounting and Finance MCQs
Practice Accounting and Finance multiple-choice questions for Preston University competitive exams. Each question includes the correct answer and a short explanation, and past-paper questions are marked so you can revise both repeated and fresh material in one place.
4
5
6
7
وضاحتSubtract 5 from both sides to get 3x = 15, then divide by 3 to get x = 5.
20
25
30
35
وضاحت0.15 * 200 = 30.
16 meters
24 meters
32 meters
64 meters
وضاحتIf area = s^2 = 64, then side s = 8. Perimeter = 4 * side = 4 * 8 = 32.
x = 6
x = 8
x = 4
x = 7
وضاحتExpanding gives 5x - 15 = 2x + 9. Subtracting 2x from both sides gives 3x - 15 = 9. Adding 15 gives 3x = 24, so x = 8.
5.6
5.2
4.8
6.0
وضاحتThe first five prime numbers are 2, 3, 5, 7, 11. The sum is 28. Average = 28 / 5 = 5.6.
$96
$100
$104
$110
وضاحتLet cost price be C. 1.20 * C = 120. C = 120 / 1.20 = 100.
2
4
8
16
وضاحتUsing exponent rules: 2^(3+4) / 2^5 = 2^7 / 2^5 = 2^(7-5) = 2^2 = 4.
15 sq cm
25 sq cm
50 sq cm
20 sq cm
وضاحتThe area of a triangle is calculated using the formula: 1/2 * base * height. 0.5 * 10 * 5 = 25.
4
5
6
7
وضاحتSubtract 7 from both sides to get 2x = 12, then divide by 2 to get x = 6.
9
15
21
23
وضاحتA prime number is a natural number greater than 1 that has no positive divisors other than 1 and itself. 23 fits this criteria.
is
are
were
been
وضاحتCollective nouns like 'team' take a singular verb when acting as a single unit.
Careless
Wise
Hasty
Loud
وضاحتPrudent means acting with or showing care and thought for the future; wise.
was
were
is
has been
وضاحتWhen using 'neither/nor', the verb agrees with the subject closest to it. Here, 'employees' is plural, so 'were' is correct.
Benevolent
Stingy
Altruistic
Lavish
وضاحتStingy means reluctant to give or spend, which is the opposite of generous.
The book, which I read yesterday, was excellent.
The book which I read yesterday, was excellent.
The book which I read yesterday was excellent.
The book, which I read yesterday was excellent.
وضاحتNon-restrictive clauses should be enclosed in commas.
To be very cold
To destroy something fragile
To initiate a conversation to ease tension
To win a competition
وضاحتThe idiom 'break the ice' refers to overcoming social awkwardness in a new situation.
go on
go ahead
carry on
hold on
وضاحت'Go ahead' is the standard phrasal verb meaning to proceed with a plan.
Accommodate
Separate
Definately
Necessary
وضاحتThe correct spelling is 'Definitely'.
a
an
the
some
وضاحتAlthough 'honest' starts with a consonant letter, it begins with a vowel sound, therefore 'an' is used.
Permanent
Short-lived
Heavy
Ancient
وضاحتEphemeral means lasting for a very short time.
Venus
Mars
Jupiter
Saturn
وضاحتMars appears reddish due to iron oxide on its surface.
Ban Ki-moon
Kofi Annan
António Guterres
Javier Pérez de Cuéllar
وضاحتAntónio Guterres has been the Secretary-General of the UN since 2017.
World Bank
World Health Organization
International Monetary Fund
UNESCO
وضاحتThe WHO headquarters is located in Geneva, Switzerland.
Oxygen
Carbon Dioxide
Nitrogen
Hydrogen
وضاحتNitrogen makes up approximately 78% of the Earth's atmosphere.
John Maynard Keynes
Karl Marx
Adam Smith
Milton Friedman
وضاحتAdam Smith's book 'The Wealth of Nations' laid the foundations for modern classical economics.
Yuan
Won
Yen
Ringgit
وضاحتThe official currency of Japan is the Japanese Yen.
Amazon
Nile
Yangtze
Mississippi
وضاحتThe Nile is traditionally considered the longest river in the world.
Atlantic Ocean
Indian Ocean
Pacific Ocean
Arctic Ocean
وضاحتThe Pacific Ocean is the largest and deepest of Earth's oceanic divisions.
Egypt
Jordan
Saudi Arabia
Turkey
وضاحتPetra is a famous archaeological site in Jordan's southwestern desert.
Gold
Osmium
Oxygen
Iron
وضاحتOxygen is represented by the chemical symbol O on the periodic table.
Accounts Payable
Owner's Equity
Inventory
Bank Loan
وضاحتInventory is a resource owned by the business that is expected to provide future economic benefits.
Assets = Liabilities + Equity
Assets = Liabilities - Equity
Assets = Equity - Liabilities
Liabilities = Assets + Equity
وضاحتThe basic accounting equation represents that all assets are funded by either debt (liabilities) or owner's capital (equity).
Accounts Payable
Office Equipment
Land
Prepaid Insurance
وضاحتAccounts Payable represents short-term obligations to creditors, making it a current liability.
Summarizing
Posting
Journalizing
Auditing
وضاحتThe initial recording of financial transactions in the general journal is known as journalizing.
Revenue + Expenses
Assets - Liabilities
Revenue - Expenses
Assets + Equity
وضاحتNet Income is the result of subtracting all operating and non-operating expenses from total revenue.
To prove that total debits equal total credits
To determine net profit
To list all business owners
To show the value of inventory
وضاحتA trial balance is used to verify that the general ledger accounts are in balance after all transactions have been recorded.
Sole Proprietorship
Partnership
Corporation
Joint Venture
وضاحتA corporation is a legal entity that is distinct and separate from its shareholders.
Revenue
Net Profit
Equity
Expenses
وضاحتThe accounting equation states that Assets = Liabilities + Equity; therefore, Equity = Assets - Liabilities.
Cash
Inventory
Buildings
Goodwill
وضاحتGoodwill represents intangible value such as brand reputation, whereas cash, inventory, and buildings are tangible.
First-In, First-Out
Final-In, First-Out
First-In, Final-Out
Fully-In, Fully-Out
وضاحتFIFO is an inventory valuation method assuming the oldest items in stock are sold first.
A
B
C
Cannot be determined
وضاحتSince A > B and B > C, the order is A > B > C, making C the shortest.
20
24
32
64
وضاحتEach number is doubled to get the next number (2^1, 2^2, 2^3, 2^4, 2^5).
PSBOHF
PQBOHF
PSBOIF
OSBOHF
وضاحتThe pattern is moving each letter one position forward in the alphabet (A+1=B, P+1=Q, etc.).
60
70
80
100
وضاحتEach number in the sequence is doubled to get the next number.
Aunt
Sister
Mother
Grandmother
وضاحتThe 'only daughter of my father' is the woman herself. Therefore, his mother is the woman.
Piano
Guitar
Flute
Violin
وضاحتThe others are string instruments, whereas a flute is a woodwind instrument.
3km
5km
8km
0km
وضاحتThe path forms three sides of a rectangle. He is 3km East of his start point.
UVFTEBZ
VWFUEBZ
UVGTFCZ
VTFTEAZ
وضاحتEach letter is shifted forward by one (M->N, o->p, etc.). Applying this to TUESDAY results in UVFTEBZ.
18
20
21
25
وضاحتThe difference between terms increases by 1 each time (+2, +3, +4, +5, +6). 15 + 6 = 21.
21
42
49
14
وضاحتUse the combination formula n(n-1)/2. (7 * 6) / 2 = 21.
Frequently Asked Questions
Are these Accounting and Finance MCQs free?
Yes. Every Accounting and Finance MCQ on this page is free to practice, including the correct answer and explanation.
Do these include past-paper questions?
Yes — questions sourced from past papers are clearly marked with a "Past Paper" badge, alongside fresh practice questions.
Which exams do these Accounting and Finance MCQs help with?
They are aimed at Preston University and related Pakistani competitive exams that test Accounting and Finance.
How should I practice subject-wise MCQs?
Attempt each question first, then reveal the answer and read the explanation. Short, focused sessions on one subject work better than long unstructured reading.