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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
In case of a debt becoming bad, the amount should be credited to
Question # 2
Trading account is the account which is prepared to determine the:
Question # 3
A transaction is recorded on the same days as its takes place, so journal is also called:
Question # 4
Ledger Records Transaction in a/an
Question # 5
Which of the following normally has a credit balance
Question # 6
Left hand side of an account is called
Question # 7
Journal is prepared in
Question # 8
A schedule of balances of all accounts is called
Question # 9
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 10
A trial balance can be constructed by
Question # 11
Bank account is a:
Question # 12
The statement which contains the explanation of different in cash book and bank statement is known as:
Question # 13
Bill receivable account is a:
Question # 14
The first successful step of Double Entry System is
Question # 15
Journal means
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 Arzoo Qaiser 31 - Jan - 2026 02 Min 13 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 -
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M Muhammad Naseem 15 - Nov - 2024 01 Min 43 Sec 11/15 -
N Nanik Chand 01 - Jun - 2024 03 Min 16 Sec 11/15
ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Salary outstanding account relevant to: |
A. Representative personal account
B. Artificial person's account
C. Natural persons account
D. Nominal accounts
|
| 2 | Bill receivable account is a: |
A. Nominal account
B. Personal account
C. Real account
D. Expenses account
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| 3 | The expenditures which reduce revenue (profit) of the business are: |
A. Revenue expenditures
B. Capital expenditure
C. Fixed expenditures
D. Future expenditures
|
| 4 | Transaction are recorded data wise, so journal is also called: |
A. Entry book
B. Transaction book
C. Chronological book
D. Voucher
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| 5 | 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
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| 6 | The balance of the trading account is the transferred to: |
A. Profit and loss account
B. Balance sheet
C. Work sheet
D. Position statement
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| 7 | The first successful step of Double Entry System is |
A. Leger
B. Journal
C. Final Account
D. Trial Balance
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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 | 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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| 10 | Record of business transaction in the journal is called |
A. Detail
B. Summary
C. Narration
D. Entry
|
Test Questions