11th class Principles of Accounting chapter 2 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 2(Transactions and Accounting Equation)

2nd Chapter

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.

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Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Chapter 10

Chapter 11

Chapter 12

Chapter 13

Chapter 14

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ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's

Sr.#	Question	Answer
1	A schedule of balances of all accounts is called	A. Journal B. Ledger C. Balance Sheet D. Trial Balance
2	Journal is prepared in	A. Columnar form B. Vertical form C. Horizontal form D. Row form
3	Bill receivable account is a:	A. Nominal account B. Personal account C. Real account D. Expenses account
4	A Ledger is a book in which	A. Only Personal & Cash Accounts are Opened B. Only Real Accounts are Opened C. Only Nominal Accounts are Opened D. All Real, Nominal and Personal Accounts are Opened
5	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
6	Journal means	A. Weekly B. Monthly C. Yearly D. Daily
7	Personal account are related to:	A. Assets and liabilities B. Expenses, losses C. Customers, creditors etc. D. Incomes
8	The Principle book of accounts is	A. Journal B. Ledger C. Trial Balance D. Balance Sheet
9	A transaction is recorded on the same days as its takes place, so journal is also called:	A. A day book B. A history book C. An entry book D. Ledger book
10	Left hand side of an account is called	A. Debit Side B. Credit Side C. Both a & b D. None of these

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First Year Principles of Accounting Chapter 2 Online MCQ Test for 1st Year Principles of Accounting Chapter 2 (Transactions and Accounting Equation)

ICOM Part 1 English Medium Subjects

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MCQ's Test For Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test"

Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test

Journal is prepared in

Journal means

The balance of the trading account is the transferred to:

Contain all residual account

In double entry system of bookkeeping every business transaction affects:

Record of business transaction in the journal is called

Trading account is the account which is prepared to determine the:

The process of recording business transaction in the journal is called

The statement which contains the explanation of different in cash book and bank statement is known as:

The book use to record all credit purchases is called:

A schedule of balances of all accounts is called

The expenditures which reduce revenue (profit) of the business are:

Ledger Records Transaction in a/an

A table lost by fire should be debited to

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

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11th Principles of Accounting Chapter 2 Test

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ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's

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