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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 book use to record all credit purchases is called:
Question # 2
Journal is prepared in
Question # 3
If the total of the credit side of an account exceeds that of debit side of the same account, it is called
Question # 4
Salary outstanding account relevant to:
Question # 5
Transaction are recorded data wise, so journal is also called:
Question # 6
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 7
Left hand side of an account is called
Question # 8
Book-keeping is mainly concerned with:
Question # 9
A Ledger is a book in which
Question # 10
Bill receivable account is a:
Question # 11
Written below each entry is the
Question # 12
A bill of exchange is drawn by:
Question # 13
Contain all residual account
Question # 14
Record of business transaction in the journal is called
Question # 15
In double entry system of bookkeeping every business transaction affects:
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 -
1 12.besties forever 10 - Jul - 2024 02 Min 16 Sec 13/15 -
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
ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Journal is prepared in |
A. Columnar form
B. Vertical form
C. Horizontal form
D. Row form
|
| 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 | The expenditures which reduce revenue (profit) of the business are: |
A. Revenue expenditures
B. Capital expenditure
C. Fixed expenditures
D. Future expenditures
|
| 4 | 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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| 5 | Salary outstanding account relevant to: |
A. Representative personal account
B. Artificial person's account
C. Natural persons account
D. Nominal accounts
|
| 6 | Bank account is a: |
A. Personal account
B. Real account
C. Nominal account
D. None of these
|
| 7 | A trial balance can be constructed by |
A. Three Methods
B. Two Methods
C. Four Methods
D. Five Methods
|
| 8 | 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
|
| 9 | The statement which contains the explanation of different in cash book and bank statement is known as: |
A. Bank statement
B. Cash statement
C. Balance statement
D. Bank reconciliation statement
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| 10 | 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
|
Test Questions