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Capital and Drawings MCQs for Competitive Exams

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Capital and Drawings MCQs for Competitive Exams

Practice with answers, explanations, and exam-focused revision notes.

71 MCQs Page 7

Topic Notes: Capital and Drawings

These notes summarize the key preparation context before you attempt the MCQs. Review the topic focus, then practice the questions below with answers and explanations.

Quick Overview

Capital and Drawings MCQs in Accountancy are useful for candidates who need targeted practice for CSS, PMS, FPSC, PPSC, NTS, entry tests, and other competitive exams in Pakistan. This topic page is designed for quick revision, repeated practice, and exam-focused preparation.

Attempt the questions page by page, check the correct answers, read the explanations where available, and compare your weak areas with past papers and mock test performance. Consistent MCQ practice improves speed, confidence, and retention for objective exam sections.

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61
Which of the following actions results in a decrease in the capital of a business?
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62
What is the formal accounting term for the financial resources contributed by the owner to initiate business operations?
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63
From the perspective of a business entity, how is interest charged on a proprietor's drawings classified?
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64
Which account should be debited when a partner purchases furniture for their private use using business funds?
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65
Where is the withdrawal of funds by the business owner for personal use recorded in the cash book?
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66
When a business owner invests personal funds into the company, which account is credited?
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67
What is the term used to describe the owner's residual interest in the business?
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68
When an owner withdraws cash for personal use, which account should be credited to reflect the reduction in the business's equity?
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69
What is the accounting term for the withdrawal of cash or goods by a business owner for personal use?
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70
Which of the following factors leads to an increase in the capital of a business?
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