First Year Principles of Accounting Chapter 2 Online MCQ Test for 1st Year Principles of Accounting Chapter 2 (Transactions and Accounting Equation)

This online test contains MCQs about following topics:

ICOM Part 1 Accounting Ch 2 Test
Start Accounting Ch 2 Test
ic

ICOM Part 1 English Medium Subjects

icon
Principles of Accounting
icon
Principles of Economics
icon
Principles of Commerce
icon
English
icon
Islamiat
icon
Business Mathematics
icon
Urdu

ICOM Part 1 Urdu Medium Subjects

icon
Urdu
icon
Business Mathematics
icon
Islamiat
icon
English
icon
Principles of Commerce
icon
Principles of Economics
icon
Principles of Accounting

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"

  • Total Questions15

  • Time Allowed20

Start Test Download PDF

Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

Ledger Records Transaction in a/an

Question # 2

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

Question # 3

Bank account is a:

Question # 4

Book-keeping is mainly concerned with:

Question # 5

A Ledger is a book in which

Question # 6

The first successful step of Double Entry System is

Question # 7

Record of business transaction in the journal is called

Question # 8

Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to

Question # 9

The Amount of salary paid to Sohail should be debited to

Question # 10

All the transactions recorded to credit sales are recorded in:

Question # 11

A table lost by fire should be debited to

Question # 12

A schedule of balances of all accounts is called

Question # 13

The balance of the trading account is the transferred to:

Question # 14

Contain all residual account

Question # 15

Bill receivable account is a:

Submit

Prepare Complete Set Wise Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test" MCQs Online With Answers


Topic Test

00:00
Submit
ic-science-white
Prin. of Accounting
2nd Chapter

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.

Start Chapter 2 Test

Top Scorers Of Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test" MCQ`s Test

  • 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
    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
  • B
    Binte Noman 03 - Jul - 2024 03 Min 31 Sec 11/15

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

Sr.# Question Answer
1 Debit Signifies
A. Increase in Asset Account
B. Decrease in Liability Account
C. Decrease in Capital Account
D. All of the Above
2 The book use to record all credit purchases is called:
A. Purchases book
B. Purchase  return book
C. Cash book
D. Creditor book
3 Personal account are related to:
A. Assets and liabilities
B. Expenses, losses
C. Customers, creditors etc.
D. Incomes
4 Record of business transaction in the journal is called
A. Detail
B. Summary
C. Narration
D. Entry
5 All the transactions recorded to credit sales are recorded in:
A. Sale return book
B. Sales book
C. Cash book
D. Debtor's book
6 Journal is prepared in
A. Columnar form
B. Vertical form
C. Horizontal form
D. Row form
7 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
8 Bank account is a:
A. Personal account
B. Real account
C. Nominal account
D. None of these
9 The balance of the trading account is the transferred to:
A. Profit and loss account
B. Balance sheet
C. Work sheet
D. Position statement
10 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

Test Questions