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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
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Question # 1
A basis of business languages
Question # 2
Journal shows all necessary information regarding.
Question # 3
Accounting records of a business enterprise are required by
Question # 4
For every debit, there is a credit
Question # 5
The accounts of assets and properties
Question # 6
A bill of exchange contains:
Question # 7
The system of recording transaction based on dual concept is called
Question # 8
A dealing between two persons is called a
Question # 9
When cash is paid to creditors it will decrease
Question # 10
The act result of the business activities is shown by:
Question # 11
Bookkeeping provides the
Question # 12
Disagreement in balances may arise owing to mistake or mistakes in the:
Question # 13
Ahmad's account is an example of
Question # 14
Error due to wrong allocation as expenditure between capital and revenue is regarded as:
Question # 15
An expenditure incurred to the increases the profit earning of the concern is a:
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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| Sr. # | Question | Answer |
|---|---|---|
| 1 | Ahmad's account is an example of |
A. real account B. personal A/c C.nominal account D. none of these |
| 2 | Events which are related with money are called: |
A. Monetary events B. Non - monetary events C.None-social events D. Political events |
| 3 | Disagreement in balances may arise owing to mistake or mistakes in the: |
A. Cash book only B. Bank statement C.Cash book or bank statement D. Bank column of the cash book only |
| 4 | A basis of business languages |
A. accounting B. bookkeeping C.transaction D. cost accounting |
| 5 | The recording of transaction chronologically in the book of accounts is called: |
A. Summarizing B. Classifying C.Recording D. None of above |
| 6 | Journal shows all necessary information regarding. |
A. The document B. A transaction C.The accounting D. Meeting |
| 7 | How many categories of accounts are |
A. two B. three C.four D. five |
| 8 | Accounting principles can be classified in |
A. three types B. two types C.five types D. six types |
| 9 | The system of recording transaction based on dual concept is called |
A. Double account system B. Double entry system C.Single entry system D. Management system |
| 10 | Modern system of bookkeeping is |
A. single entry system B. double entry system C.modern system D. none of these |
| 11 | The accounts of assets and properties |
A. nominal accounts B. real accounts C.personal accounts D. valuation accounts |
| 12 | Accounting records of a business enterprise are required by |
A. management of the business B. outsiders C.all of the above D. none of the above |
| 13 | 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 |
| 14 | A copy of the customer's account in the bank's ledger is called: |
A. Deposit statement B. Balance statement C.Bank statement D. Customer |
| 15 | The act result of the business activities is shown by: |
A. Profit and loss account B. Profit and loss appropriation account C.Trading account D. Balance sheet |
Test Questions
