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This online test contains MCQs about following topics:
ICOM Part 1 Accounting Ch 1 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 1 "Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test"
Try The MCQ's Test For Chapter 1 "Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test"
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test
00:00
Question # 1
How many categories of accounts are
Question # 2
A dealing between two persons is called a
Question # 3
Double entry means
Question # 4
Accounts relating to persons of firms are called:
Question # 5
An expenditure which is incurred again and again is a:
Question # 6
Events which are related with money are called:
Question # 7
The accounts of assets and properties
Question # 8
The errors in which amount have occurred on the opposite sides of two or more accounts and have concealed themselves in the net result, are:
Question # 9
Journal shows all necessary information regarding.
Question # 10
Which of the following discloses the financial position of the business:
Question # 11
Ahmad's account is an example of
Question # 12
Error due to wrong allocation as expenditure between capital and revenue is regarded as:
Question # 13
Expenses paid by a business decrease
Question # 14
A copy of the customer's account in the bank's ledger is called:
Question # 15
The recording of transaction chronologically in the book of accounts is called:
11th Principles of Accounting Chapter 1 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 1 Introduction Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Accounting Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Error due to wrong allocation as expenditure between capital and revenue is regarded as: |
A. Error of omission
B. Error of principle
C. Compensating errors
D. Error of Commission
|
| 2 | A bill of exchange contains: |
A. An unconditional order
B. A promise
C. A request
D. A conditional order
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| 3 | When cash is paid to creditors it will decrease |
A. cash
B. capital
C. debtor
D. cash & creditors
|
| 4 | Expenses paid by a business decrease |
A. cash
B. capital
C. cash & capital
D. none of these
|
| 5 | The accounts of expenses, incomes, losses and gains |
A. real accounts
B. valuation accounts
C. nominal accounts
D. personal accounts
|
| 6 | The accounts of assets and properties |
A. nominal accounts
B. real accounts
C. personal accounts
D. valuation accounts
|
| 7 | Journal shows all necessary information regarding. |
A. The document
B. A transaction
C. The accounting
D. Meeting
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| 8 | Carriage account is a/an |
A. asset account
B. revenue account
C. expenditure A/c
D. withdrawal account
|
| 9 | Which of the following discloses the financial position of the business: |
A. Trading account
B. Profit and loss account
C. Profit and loss appropriation account
D. Balance sheet
|
| 10 | A basis of business languages |
A. accounting
B. bookkeeping
C. transaction
D. cost accounting
|
Test Questions