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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
Journal shows all necessary information regarding.
Question # 2
Bookkeeping provides the
Question # 3
The act result of the business activities is shown by:
Question # 4
The effect of drawing on accounting equation is
Question # 5
For every debit, there is a credit
Question # 6
A basis of business languages
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
Carriage account is a/an
Question # 9
The system of recording transaction based on dual concept is called
Question # 10
An expenditure incurred to the increases the profit earning of the concern is a:
Question # 11
An expenditure which is incurred again and again is a:
Question # 12
Expenses paid by a business decrease
Question # 13
Accounting principles can be classified in
Question # 14
Goods returned by customers are
Question # 15
A copy of the customer's account in the bank's ledger 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.
Top Scorers Of Chapter 1 "Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test" MCQ`s Test
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A Arfan Rat 15 - Aug - 2024 01 Min 00 Sec 15/15 -
W White Ninja yt 05 - Oct - 2024 01 Min 29 Sec 15/15 -
H Hania Sheikh 30 - Jul - 2024 01 Min 57 Sec 15/15 -
H Haniya Ali 02 - Oct - 2024 02 Min 08 Sec 15/15 -
B Bts army 01 - Aug - 2024 02 Min 40 Sec 13/15 -
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M Maheen Saha 23 - Dec - 2024 02 Min 23 Sec 12/15 -
A Anam Toqeer 03 - Oct - 2024 02 Min 43 Sec 12/15 -
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M Malik Irfan Javed 31 - Jul - 2024 06 Min 11 Sec 12/15 -
A Abaiad Raja 05 - Dec - 2024 00 Min 18 Sec 11/15 -
A AYAAN IS HERE 23 - Oct - 2024 00 Min 06 Sec 10/15 -
L Laiba Sehar45 16 - Nov - 2024 02 Min 14 Sec 10/15 -
Y Yahya Albalochi 18 - Oct - 2024 03 Min 30 Sec 10/15
ICom Part 1 Principles of Accounting Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | All cash purchases and cash sales are recorded in: |
A. Sales book
B. Purchases book
C. Both a & b
D. Cash book
|
| 2 | 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
|
| 3 | Accounts relating to persons of firms are called: |
A. Real accounts
B. Proprietary accounts
C. Personal accounts
D. Nominal accounts
|
| 4 | Ahmad's account is an example of |
A. real account
B. personal A/c
C. nominal account
D. none of these
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| 5 | A bill of exchange contains: |
A. An unconditional order
B. A promise
C. A request
D. A conditional order
|
| 6 | According to accounting equation, capital is equal to |
A. assets + liabilities
B. expenses-incomes
C. liabilities - assets
D. assets - liabilities
|
| 7 | The accounts of expenses, incomes, losses and gains |
A. real accounts
B. valuation accounts
C. nominal accounts
D. personal accounts
|
| 8 | A dealing between two persons is called a |
A. business
B. transaction
C. purchases
D. sales
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| 9 | Accounting principles can be classified in |
A. three types
B. two types
C. five types
D. six types
|
| 10 | Cash paid to Naeem will affect |
A. cash & capital
B. cash & creditor
C. cash and debtors
D. cash & goods
|
Test Questions