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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
The accounts of expenses, incomes, losses and gains
Question # 2
Purchased goods on credit and for cash will affect
Question # 3
Error due to wrong allocation as expenditure between capital and revenue is regarded as:
Question # 4
Events which are related with money are called:
Question # 5
Which of the following discloses the financial position of the business:
Question # 6
For every debit, there is a credit
Question # 7
Accounting principles can be classified in
Question # 8
The recording of transaction chronologically in the book of accounts is called:
Question # 9
Double entry means
Question # 10
The system of recording transaction based on dual concept is called
Question # 11
The act result of the business activities is shown by:
Question # 12
Expenses paid by a business decrease
Question # 13
Accounts relating to persons of firms are called:
Question # 14
Disagreement in balances may arise owing to mistake or mistakes in the:
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.
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 -
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H Hania Sheikh 30 - Jul - 2024 01 Min 57 Sec 15/15 -
H Haniya Ali 02 - Oct - 2024 02 Min 08 Sec 15/15 -
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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 -
E Eishal Fatima 08 - Apr - 2026 02 Min 47 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 | Cash paid to Naeem will affect |
A. cash & capital
B. cash & creditor
C. cash and debtors
D. cash & goods
|
| 2 | How many categories of accounts are |
A. two
B. three
C. four
D. five
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| 3 | An expenditure incurred to the increases the profit earning of the concern is a: |
A. Revenue expenditure
B. Current expenditure
C. Capital receipt
D. Capital expenditure
|
| 4 | Bookkeeping provides the |
A. primary information
B. secondary information
C. final information
D. insufficient information
|
| 5 | 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
|
| 6 | Accounts relating to persons of firms are called: |
A. Real accounts
B. Proprietary accounts
C. Personal accounts
D. Nominal accounts
|
| 7 | 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
|
| 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: |
A. Error of principle
B. Errors of omission
C. Errors of commission
D. Compensating error
|
| 9 | 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
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| 10 | The accounts of expenses, incomes, losses and gains |
A. real accounts
B. valuation accounts
C. nominal accounts
D. personal accounts
|
Test Questions