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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
The process of recording business transaction in the journal is called
Question # 2
The Principle book of accounts is
Question # 3
Debit Signifies
Question # 4
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to
Question # 5
Which of the following normally has a credit balance
Question # 6
In case of a debt becoming bad, the amount should be credited to
Question # 7
Book-keeping is mainly concerned with:
Question # 8
A bill of exchange is drawn by:
Question # 9
A table lost by fire should be debited to
Question # 10
Transaction are recorded data wise, so journal is also called:
Question # 11
A trial balance can be constructed by
Question # 12
All the transactions recorded to credit sales are recorded in:
Question # 13
The Amount of salary paid to Sohail should be debited to
Question # 14
Salary outstanding account relevant to:
Question # 15
Journal is prepared in
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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M Muhammad kashif shakoor 06 - Jun - 2024 02 Min 44 Sec 13/15 -
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Z Zafar Ali 21 - May - 2024 01 Min 22 Sec 12/15 -
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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 | A trial balance can be constructed by |
A. Three Methods
B. Two Methods
C. Four Methods
D. Five Methods
|
| 2 | A schedule of balances of all accounts is called |
A. Journal
B. Ledger
C. Balance Sheet
D. Trial Balance
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| 3 | Ledger Records Transaction in a/an |
A. Chronological Order
B. Daily order
C. Arithmetical Order
D. Analytical Order
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| 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 | Journal means |
A. Weekly
B. Monthly
C. Yearly
D. Daily
|
| 6 | 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
|
| 7 | Salary outstanding account relevant to: |
A. Representative personal account
B. Artificial person's account
C. Natural persons account
D. Nominal accounts
|
| 8 | Transaction are recorded data wise, so journal is also called: |
A. Entry book
B. Transaction book
C. Chronological book
D. Voucher
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| 9 | The Principle book of accounts is |
A. Journal
B. Ledger
C. Trial Balance
D. Balance Sheet
|
| 10 | The first successful step of Double Entry System is |
A. Leger
B. Journal
C. Final Account
D. Trial Balance
|
Test Questions