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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
Personal account are related to:
Question # 2
A trial balance can be constructed by
Question # 3
Journal means
Question # 4
Contain all residual account
Question # 5
The balance of the trading account is the transferred to:
Question # 6
Which of the following normally has a credit balance
Question # 7
Trading account is the account which is prepared to determine the:
Question # 8
In case of a debt becoming bad, the amount should be credited to
Question # 9
Bill receivable account is a:
Question # 10
Debit Signifies
Question # 11
Left hand side of an account is called
Question # 12
A schedule of balances of all accounts is called
Question # 13
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 14
In double entry system of bookkeeping every business transaction affects:
Question # 15
Written below each entry is the
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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W White Ninja yt 05 - Oct - 2024 02 Min 49 Sec 15/15 -
U Unknown 27 - Jul - 2025 00 Min 07 Sec 14/15 -
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ICom Part 1 Principles of Accounting Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Record of business transaction in the journal is called |
A. Detail
B. Summary
C. Narration
D. Entry
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| 2 | A Ledger is a book in which |
A. Only Personal & Cash Accounts are Opened
B. Only Real Accounts are Opened
C. Only Nominal Accounts are Opened
D. All Real, Nominal and Personal Accounts are Opened
|
| 3 | Journal is prepared in |
A. Columnar form
B. Vertical form
C. Horizontal form
D. Row form
|
| 4 | Bill receivable account is a: |
A. Nominal account
B. Personal account
C. Real account
D. Expenses account
|
| 5 | Debit Signifies |
A. Increase in Asset Account
B. Decrease in Liability Account
C. Decrease in Capital Account
D. All of the Above
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| 6 | A schedule of balances of all accounts is called |
A. Journal
B. Ledger
C. Balance Sheet
D. Trial Balance
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| 7 | The process of recording business transaction in the journal is called |
A. Posting
B. Journalizing
C. Classifying
D. Entry
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| 8 | The balance of the trading account is the transferred to: |
A. Profit and loss account
B. Balance sheet
C. Work sheet
D. Position statement
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| 9 | 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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| 10 | The expenditures which reduce revenue (profit) of the business are: |
A. Revenue expenditures
B. Capital expenditure
C. Fixed expenditures
D. Future expenditures
|
Test Questions
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zohaib hassan attari
11 Dec 2018plz mairi achi si tiari karwa dy ham ny buht mushkil fees pay ki hy mujhy achi tarha entris sikha dy