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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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.

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Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Chapter 10

Chapter 11

Chapter 12

Chapter 13

Chapter 14

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

Sr.#	Question	Answer
1	All the transactions recorded to credit sales are recorded in:	A. Sale return book B. Sales book C. Cash book D. Debtor's book
2	The balance of the trading account is the transferred to:	A. Profit and loss account B. Balance sheet C. Work sheet D. Position statement
3	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
4	The process of recording business transaction in the journal is called	A. Posting B. Journalizing C. Classifying D. Entry
5	A schedule of balances of all accounts is called	A. Journal B. Ledger C. Balance Sheet D. Trial Balance
6	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
7	Transaction are recorded data wise, so journal is also called:	A. Entry book B. Transaction book C. Chronological book D. Voucher
8	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
9	Personal account are related to:	A. Assets and liabilities B. Expenses, losses C. Customers, creditors etc. D. Incomes
10	Journal is prepared in	A. Columnar form B. Vertical form C. Horizontal form D. Row form

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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

The process of recording business transaction in the journal is called

Trading account is the account which is prepared to determine the:

The Amount of salary paid to Sohail should be debited to

Bank account is a:

In double entry system of bookkeeping every business transaction affects:

The Principle book of accounts is

If the total of the credit side of an account exceeds that of debit side of the same account, it is called

The statement which contains the explanation of different in cash book and bank statement is known as:

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 Ledger is a book in which

Journal means

Bill receivable account is a:

A bill of exchange is drawn by:

The balance of the trading account is the transferred to:

Contain all residual account

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11th Principles of Accounting Chapter 2 Test

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

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