11th class Principles of Accounting chapter 2 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 2(Transactions and Accounting Equation)

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

Sr.#	Question	Answer
1	A schedule of balances of all accounts is called	A. Journal B. Ledger C. Balance Sheet D. Trial Balance
2	Written below each entry is the	A. Transaction B. Voucher no C. Narration D. Date
3	A trial balance can be constructed by	A. Three Methods B. Two Methods C. Four Methods D. Five Methods
4	Left hand side of an account is called	A. Debit Side B. Credit Side C. Both a & b D. None of these
5	In double entry system of bookkeeping every business transaction affects:	A. Debit or credit side of the same account B. Two accounts C. The same side of the same account D. None of the above
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	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
8	Personal account are related to:	A. Assets and liabilities B. Expenses, losses C. Customers, creditors etc. D. Incomes
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	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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First Year Principles of Accounting Chapter 2 Online MCQ Test for 1st Year Principles of Accounting Chapter 2 (Transactions and Accounting Equation)

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MCQ's Test For Chapter 2 "Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test"

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

Bank account is a:

A bill of exchange is drawn by:

If the total of the credit side of an account exceeds that of debit side of the same account, it is called

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

Contain all residual account

Journal means

The balance of the trading account is the transferred to:

The Amount of salary paid to Sohail should be debited to

Which of the following normally has a credit balance

Written below each entry is the

The statement which contains the explanation of different in cash book and bank statement is known as:

A Ledger is a book in which

Ledger Records Transaction in a/an

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

Left hand side of an account is called

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11th Principles of Accounting Chapter 2 Test

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

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