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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
Journal means
Question # 2
Book-keeping is mainly concerned with:
Question # 3
Which of the following normally has a credit balance
Question # 4
If the total of the credit side of an account exceeds that of debit side of the same account, it is called
Question # 5
Trading account is the account which is prepared to determine the:
Question # 6
Personal account are related to:
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 Principle book of accounts is
Question # 10
The first successful step of Double Entry System is
Question # 11
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 # 12
Ledger Records Transaction in a/an
Question # 13
A bill of exchange is drawn by:
Question # 14
The book use to record all credit purchases is called:
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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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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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 | 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
|
| 2 | Debit Signifies |
A. Increase in Asset Account
B. Decrease in Liability Account
C. Decrease in Capital Account
D. All of the Above
|
| 3 | 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
|
| 4 | The process of recording business transaction in the journal is called |
A. Posting
B. Journalizing
C. Classifying
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 | Written below each entry is the |
A. Transaction
B. Voucher no
C. Narration
D. Date
|
| 7 | Bill receivable account is a: |
A. Nominal account
B. Personal account
C. Real account
D. Expenses account
|
| 8 | Ledger Records Transaction in a/an |
A. Chronological Order
B. Daily order
C. Arithmetical Order
D. Analytical Order
|
| 9 | A bill of exchange is drawn by: |
A. A debtor
B. A creditor
C. A holder
D. Endorsee
|
| 10 | The Principle book of accounts is |
A. Journal
B. Ledger
C. Trial Balance
D. Balance Sheet
|
Test Questions