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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
A trial balance can be constructed by
Question # 2
Contain all residual account
Question # 3
Salary outstanding account relevant to:
Question # 4
The first successful step of Double Entry System is
Question # 5
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 6
The expenditures which reduce revenue (profit) of the business are:
Question # 7
Bill receivable account is a:
Question # 8
All the transactions recorded to credit sales are recorded in:
Question # 9
Written below each entry is the
Question # 10
The balance of the trading account is the transferred to:
Question # 11
A schedule of balances of all accounts is called
Question # 12
A bill of exchange is drawn by:
Question # 13
Journal means
Question # 14
Which of the following normally has a credit balance
Question # 15
Ledger Records Transaction in a/an
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 -
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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 | The book use to record all credit purchases is called: |
A. Purchases book
B. Purchase return book
C. Cash book
D. Creditor book
|
| 2 | 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
|
| 3 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | The first successful step of Double Entry System is |
A. Leger
B. Journal
C. Final Account
D. Trial Balance
|
| 7 | Journal is prepared in |
A. Columnar form
B. Vertical form
C. Horizontal form
D. Row form
|
| 8 | Written below each entry is the |
A. Transaction
B. Voucher no
C. Narration
D. Date
|
| 9 | Left hand side of an account is called |
A. Debit Side
B. Credit Side
C. Both a & b
D. None of these
|
| 10 | The balance of the trading account is the transferred to: |
A. Profit and loss account
B. Balance sheet
C. Work sheet
D. Position statement
|
Test Questions