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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
A trial balance can be constructed by
Question # 2
Record of business transaction in the journal is called
Question # 3
Bill receivable account is a:
Question # 4
Salary outstanding account relevant to:
Question # 5
Written below each entry is the
Question # 6
Journal is prepared in
Question # 7
Bank account is a:
Question # 8
A table lost by fire should be debited to
Question # 9
A schedule of balances of all accounts is called
Question # 10
In case of a debt becoming bad, the amount should be credited to
Question # 11
Book-keeping is mainly concerned with:
Question # 12
Left hand side of an account is called
Question # 13
Ledger Records Transaction in a/an
Question # 14
A transaction is recorded on the same days as its takes place, so journal is also called:
Question # 15
Debit Signifies
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 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 -
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 -
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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 | Journal is prepared in |
A. Columnar form
B. Vertical form
C. Horizontal form
D. Row form
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| 2 | The first successful step of Double Entry System is |
A. Leger
B. Journal
C. Final Account
D. Trial Balance
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| 3 | Journal means |
A. Weekly
B. Monthly
C. Yearly
D. Daily
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| 4 | All the transactions recorded to credit sales are recorded in: |
A. Sale return book
B. Sales book
C. Cash book
D. Debtor's book
|
| 5 | The statement which contains the explanation of different in cash book and bank statement is known as: |
A. Bank statement
B. Cash statement
C. Balance statement
D. Bank reconciliation statement
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| 6 | A bill of exchange is drawn by: |
A. A debtor
B. A creditor
C. A holder
D. Endorsee
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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 | 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
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| 9 | The expenditures which reduce revenue (profit) of the business are: |
A. Revenue expenditures
B. Capital expenditure
C. Fixed expenditures
D. Future expenditures
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| 10 | A transaction is recorded on the same days as its takes place, so journal is also called: |
A. A day book
B. A history book
C. An entry book
D. Ledger book
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Test Questions