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.

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

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

Sr. # Questions Answers Choice
1 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
2 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
3 A trial balance can be constructed by
  • A. Three Methods
  • B. Two Methods
  • C. Four Methods
  • D. Five Methods
4 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
5 Ledger Records Transaction in a/an
  • A. Chronological Order
  • B. Daily order
  • C. Arithmetical Order
  • D. Analytical Order
6 Contain all residual account
  • A. Debtors Ledger
  • B. Creditors Ledger
  • C. General Ledger
  • D. Cash Ledger
7 A schedule of balances of all accounts is called
  • A. Journal
  • B. Ledger
  • C. Balance Sheet
  • D. Trial Balance
8 The first successful step of Double Entry System is
  • A. Leger
  • B. Journal
  • C. Final Account
  • D. Trial Balance
9 Which of the following normally has a credit balance
  • A. Machinery a/c
  • B. Purchases a/c
  • C. Stock a/c
  • D. Sales a/c
10 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

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  • Z

    Zohaib Hassan Attari

    11 Dec 2018

    plz mairi achi si tiari karwa dy ham ny buht mushkil fees pay ki hy mujhy achi tarha entris sikha dy

    Like (1)
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