First Year Principles of Accounting Chapter 3 Online MCQ Test for 1st Year Principles of Accounting Chapter 3 (Analysis of Business Transactions and Double Entry System)

This online test contains MCQs about following topics:

. Need and importance if accounting . Analysis of transactiions . Double entry system . Advantages of double entry system . SIngle entry system . Distinction between double entry system and single entry system . What is an account? . Classification of account . Rules for debiting and crediting . Explanation of rules

ICOM Part 1 Accounting Ch 3 Test
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ICOM Part 1 English Medium Subjects

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

ICOM Part 1 Urdu Medium Subjects

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

MCQ's Test For Chapter 3 "Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test"

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  • Total Questions15

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Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test

00:00
Question # 1

A bill of exchange is drawn by

Question # 2

Which cash is paid or received in an exchange the transaction is called:

Question # 3

When is a drawee is declared insolvent which account is to be debited in the books of drawer

Question # 4

Real accounts are related to:

Question # 5

When a Bill is dishonoured, the holder of the bill goes to an official called

Question # 6

The concept of conservation will have the effect of:

Question # 7

When an acceptor refuses to pay the amount of bill to the holder on its maturity date it is called

Question # 8

Bank for collection is a

Question # 9

At the time of drawing a bill the drawer credits:

Question # 10

Subsidiary books are called the book of:

Question # 11

All those expenses which are incurred to convert raw-materials into finished goods are called:

Question # 12

Accommodation bills are drawn accepted and endorsed

Question # 13

A bill of exchange is a / an

Question # 14

Any activity undertaken for the purpose of earning profit is called:

Question # 15

The transaction for which non separate book is maintained are recorded in:

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