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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
All the transactions recorded to credit sales are recorded in:
Question # 2
A transaction is recorded on the same days as its takes place, so journal is also called:
Question # 3
The first successful step of Double Entry System is
Question # 4
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 5
A trial balance can be constructed by
Question # 6
In case of a debt becoming bad, the amount should be credited to
Question # 7
Salary outstanding account relevant to:
Question # 8
The Principle book of accounts is
Question # 9
A Ledger is a book in which
Question # 10
Journal means
Question # 11
The statement which contains the explanation of different in cash book and bank statement is known as:
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
Record of business transaction in the journal is called
Question # 14
A schedule of balances of all accounts is called
Question # 15
A table lost by fire should be debited to
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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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Left hand side of an account is called |
A. Debit Side
B. Credit Side
C. Both a & b
D. None of these
|
| 2 | A schedule of balances of all accounts is called |
A. Journal
B. Ledger
C. Balance Sheet
D. Trial Balance
|
| 3 | Debit Signifies |
A. Increase in Asset Account
B. Decrease in Liability Account
C. Decrease in Capital Account
D. All of the Above
|
| 4 | 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
|
| 5 | A transaction is recorded on the same days as its takes place, so journal is also called: |
A. A day book
B. A history book
C. An entry book
D. Ledger book
|
| 6 | 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. قانون تقلیل افادہ مختتم
B. قانون مساوی افادہ مختتم
C. قانون طلب
D. قانون تقلیل حاصل
|
| 7 | Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to |
A. Machinery a/c
B. Repair a/c
C. Wages a/c
D. Raheel a/c
|
| 8 | The expenditures which reduce revenue (profit) of the business are: |
A. Revenue expenditures
B. Capital expenditure
C. Fixed expenditures
D. Future expenditures
|
| 9 | The Amount of salary paid to Sohail should be debited to |
A. Sohail's a/c
B. Cash Account
C. Salaries a/c
D. Both a & c
|
| 10 | Salary outstanding account relevant to: |
A. Representative personal account
B. Artificial person's account
C. Natural persons account
D. Nominal accounts
|
| 11 | A trial balance can be constructed by |
A. Three Methods
B. Two Methods
C. Four Methods
D. Five Methods
|
| 12 | Personal account are related to: |
A. Assets and liabilities
B. Expenses, losses
C. Customers, creditors etc.
D. Incomes
|
| 13 | A bill of exchange is drawn by: |
A. A debtor
B. A creditor
C. A holder
D. Endorsee
|
| 14 | Journal means |
A. Weekly
B. Monthly
C. Yearly
D. Daily
|
| 15 | Ledger Records Transaction in a/an |
A. Chronological Order
B. Daily order
C. Arithmetical Order
D. Analytical Order
|
Test Questions
