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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
Journal means
Question # 2
A transaction is recorded on the same days as its takes place, so journal is also called:
Question # 3
The expenditures which reduce revenue (profit) of the business are:
Question # 4
The process of recording business transaction in the journal is called
Question # 5
The Principle book of accounts is
Question # 6
Salary outstanding account relevant to:
Question # 7
Trading account is the account which is prepared to determine the:
Question # 8
Book-keeping is mainly concerned with:
Question # 9
The book use to record all credit purchases is called:
Question # 10
Ledger Records Transaction in a/an
Question # 11
Personal account are related to:
Question # 12
If the total of the credit side of an account exceeds that of debit side of the same account, it is called
Question # 13
The balance of the trading account is the transferred to:
Question # 14
Journal is prepared in
Question # 15
Bill receivable account is a:
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 -
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 -
S Subhan Baig 19 - Jul - 2024 03 Min 31 Sec 11/15
ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Contain all residual account |
A. Debtors Ledger
B. Creditors Ledger
C. General Ledger
D. Cash Ledger
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| 2 | 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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| 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
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| 4 | The book use to record all credit purchases is called: |
A. Purchases book
B. Purchase return book
C. Cash book
D. Creditor book
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| 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
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| 6 | Journal means |
A. Weekly
B. Monthly
C. Yearly
D. Daily
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| 7 | 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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| 8 | 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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| 9 | A schedule of balances of all accounts is called |
A. Journal
B. Ledger
C. Balance Sheet
D. Trial Balance
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| 10 | Bank account is a: |
A. Personal account
B. Real account
C. Nominal account
D. None of these
|
Test Questions