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)

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

Sr.#	Question	Answer
1	Transaction are recorded data wise, so journal is also called:	A. Entry book B. Transaction book C. Chronological book D. Voucher
2	Written below each entry is the	A. Transaction B. Voucher no C. Narration D. Date
3	Trading account is the account which is prepared to determine the:	A. Only gross profit of the business B. Only gross loss of the business C. Gross pro0fit or the gross loss of the business D. None of the above
4	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
5	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
6	In case of a debt becoming bad, the amount should be credited to	A. Debtor's a/c B. Bad Debts a/c C. Sales a/c D. cash a/c
7	Bank account is a:	A. Personal account B. Real account C. Nominal account D. None of these
8	The book use to record all credit purchases is called:	A. Purchases book B. Purchase return book C. Cash book D. Creditor book
9	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	A. قانون تقلیل افادہ مختتم B. قانون مساوی افادہ مختتم C. قانون طلب D. قانون تقلیل حاصل
10	Record of business transaction in the journal is called	A. Detail B. Summary C. Narration D. Entry

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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

Contain all residual account

The first successful step of Double Entry System is

Ledger Records Transaction in a/an

Debit Signifies

Salary outstanding account relevant to:

The process of recording business transaction in the journal is called

A transaction is recorded on the same days as its takes place, so journal is also called:

A bill of exchange is drawn by:

Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to

Book-keeping is mainly concerned with:

The Amount of salary paid to Sohail should be debited to

All the transactions recorded to credit sales are recorded in:

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

Journal means

Transaction are recorded data wise, so journal is also called:

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11th Principles of Accounting Chapter 2 Test

Top Scorers Of Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test" MCQ`s Test

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

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