ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

Start Chapter 11 Test

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

Sr. # Questions Answers Choice
1 The body of worksheet contains
  • A. Two pairs of money column
  • B. Three pairs of money column
  • C. Four pairs of money column
  • D. Five pairs of money column
2 In the preparation of the worksheet the amounts on the trail balance columns are taken directly from
  • A. Journal
  • B. Ledger
  • C. Trail balance
  • D. Transaction
3 The excess of credit column over debit column in income statement is called
  • A. Net loss
  • B. Net profit
  • C. Cash balance
  • D. Gross profit
4 Expired cost of fixed assets means
  • A. Appreciation
  • B. Amortization
  • C. Depreciation
  • D. None of these
5 One way of avoiding errors in the permanent accounting records is to use a form which is called
  • A. Bank statement
  • B. Trail balance
  • C. Balance sheet
  • D. Work sheet
6 Worksheet provides complete information for preparing
  • A. Income statement
  • B. Position statement
  • C. Financial statement
  • D. Bank reconciliation statement
7 The ______ is not a part of the permanent accounting record
  • A. worksheet
  • B. Journal
  • C. Ledger
  • D. Trail balance
8 The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the
  • A. Balance sheet columns
  • B. Income statement columns
  • C. Cash columns
  • D. Bank columns
9 Worksheet contains ______ pairs of money columns
  • A. Five
  • B. Four
  • C. Three
  • D. Two
10 Usually every ______ entry affect both income statement and balance sheet
  • A. Adjusting
  • B. Work sheet
  • C. Balance sheet
  • D. Ledger

Top Scorers of Principles of accounting Icom Part 1 English Medium Chapter 11 Online Test

K

Kanzul_Ul_Emaan

Lahore31 - May - 2025

12/15
05 Mins 09 Sec
T

Tahreem Waris

Lahore23 - Jun - 2025

11/15
02 Mins 31 Sec

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