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This online test contains MCQs about following topics:
ICOM Part 1 Accounting Ch 2 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test"
Try The MCQ's Test For Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test"
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test
00:00
Question # 1
The process of recording business transaction in the journal is called
Question # 2
A bill of exchange is drawn by:
Question # 3
Journal is prepared in
Question # 4
A Ledger is a book in which
Question # 5
کسی شے کے مسلسل اور لگاتار استعمال سے مختتم افادہ میں کمی آتی جاتی ہے بشرطیکہ دیگر امور بدستور ہیں اس قانون کو کہتے ہیں
Question # 6
The statement which contains the explanation of different in cash book and bank statement is known as:
Question # 7
Left hand side of an account is called
Question # 8
The balance of the trading account is the transferred to:
Question # 9
In case of a debt becoming bad, the amount should be credited to
Question # 10
All the transactions recorded to credit sales are recorded in:
Question # 11
The Amount of salary paid to Sohail should be debited to
Question # 12
In double entry system of bookkeeping every business transaction affects:
Question # 13
Ledger Records Transaction in a/an
Question # 14
The book use to record all credit purchases is called:
Question # 15
Bill receivable account is a:
11th Principles of Accounting Chapter 2 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 2 Transactions and Accounting Equation Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test" MCQ`s Test
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H Hania Sheikh 30 - Jul - 2024 00 Min 55 Sec 15/15 -
W White Ninja yt 05 - Oct - 2024 02 Min 49 Sec 15/15 -
U Unknown 27 - Jul - 2025 00 Min 07 Sec 14/15 -
A Abdullah Wajid 21 - May - 2024 00 Min 44 Sec 14/15 -
A Ayan Ahmed 30 - Apr - 2024 01 Min 08 Sec 14/15 -
J Jaweria Faraz 14 - Jul - 2024 02 Min 56 Sec 14/15 -
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S Sania Butt 27 - May - 2024 02 Min 31 Sec 13/15 -
M Muhammad kashif shakoor 06 - Jun - 2024 02 Min 44 Sec 13/15 -
S saman baig 20 - May - 2024 05 Min 30 Sec 13/15 -
H Huzaifa Muzammil 29 - Oct - 2025 00 Min 23 Sec 12/15 -
Z Zafar Ali 21 - May - 2024 01 Min 22 Sec 12/15 -
H Hamza Meer 21 - May - 2024 11 Min 01 Sec 12/15 -
M Muhammad Naseem 15 - Nov - 2024 01 Min 43 Sec 11/15 -
N Nanik Chand 01 - Jun - 2024 03 Min 16 Sec 11/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | All the transactions recorded to credit sales are recorded in: |
A. Sale return book
B. Sales book
C. Cash book
D. Debtor's book
|
| 2 | Book-keeping is mainly concerned with: |
A. Recording of business transactions
B. Recording classifying and summarizing the recorded data
C. Interpreting the recorded data
D. None of the above
|
| 3 | In double entry system of bookkeeping every business transaction affects: |
A. Debit or credit side of the same account
B. Two accounts
C. The same side of the same account
D. None of the above
|
| 4 | A trial balance can be constructed by |
A. Three Methods
B. Two Methods
C. Four Methods
D. Five Methods
|
| 5 | Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to |
A. Machinery a/c
B. Repair a/c
C. Wages a/c
D. Raheel a/c
|
| 6 | A table lost by fire should be debited to |
A. Table a/c
B. Furniture a/c
C. Loss by Fire a/c
D. Purchases a/c
|
| 7 | Debit Signifies |
A. Increase in Asset Account
B. Decrease in Liability Account
C. Decrease in Capital Account
D. All of the Above
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| 8 | If the total of the credit side of an account exceeds that of debit side of the same account, it is called |
A. Credit Balance
B. Debit Balance
C. Balancing
D. Zero Balance
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| 9 | Record of business transaction in the journal is called |
A. Detail
B. Summary
C. Narration
D. Entry
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| 10 | A schedule of balances of all accounts is called |
A. Journal
B. Ledger
C. Balance Sheet
D. Trial Balance
|
Test Questions
