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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
Goods returned by customers are
Question # 2
Which of the following discloses the financial position of the business:
Question # 3
Disagreement in balances may arise owing to mistake or mistakes in the:
Question # 4
Modern system of bookkeeping is
Question # 5
The recording of transaction chronologically in the book of accounts is called:
Question # 6
Accounts relating to persons of firms are called:
Question # 7
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 # 8
For every debit, there is a credit
Question # 9
A basis of business languages
Question # 10
How many categories of accounts are
Question # 11
An expenditure which is incurred again and again is a:
Question # 12
A copy of the customer's account in the bank's ledger is called:
Question # 13
Error due to wrong allocation as expenditure between capital and revenue is regarded as:
Question # 14
A dealing between two persons is called a
Question # 15
Journal shows all necessary information regarding.
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 | Ahmad's account is an example of |
A. real account
B. personal A/c
C. nominal account
D. none of these
|
| 2 | Double entry means |
A. entry in two sets of books
B. entry at two dates
C. entry for two aspects of a transaction
D. recording twice in journal
|
| 3 | Cash paid to Naeem will affect |
A. cash & capital
B. cash & creditor
C. cash and debtors
D. cash & goods
|
| 4 | A bill of exchange contains: |
A. An unconditional order
B. A promise
C. A request
D. A conditional order
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| 5 | For every debit, there is a credit |
A. going concern concept
B. dual aspect concept
C. matching concept
D. cost concept
|
| 6 | Accounting principles can be classified in |
A. three types
B. two types
C. five types
D. six types
|
| 7 | Bookkeeping provides the |
A. primary information
B. secondary information
C. final information
D. insufficient information
|
| 8 | All cash purchases and cash sales are recorded in: |
A. Sales book
B. Purchases book
C. Both a & b
D. Cash book
|
| 9 | Modern system of bookkeeping is |
A. single entry system
B. double entry system
C. modern system
D. none of these
|
| 10 | The effect of drawing on accounting equation is |
A. decrease in assets and decrease in liabilities
B. increase in both assets & liabilities
C. decrease in assets and increase in capital
D. none of these
|
Test Questions
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