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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
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
Online MCQ`s Test For Chapter 3 "Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test"
Try The 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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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test
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Question # 1
A bill from the point of view of a debtor is called
Question # 2
Accommodation bills are drawn accepted and endorsed
Question # 3
When a bill is discharged the acceptor debits:
Question # 4
A bill which is both drawn and payable within the geographical boundaries of a country
Question # 5
The person to whom bill is transferred will become
Question # 6
A bill of exchange is a method of payment on
Question # 7
Which cash is paid or received in an exchange the transaction is called:
Question # 8
When a drawee honours his acceptance, he will credit
Question # 9
A many buy Rs. 40,000 worth good and sells them for Rs. 50,000. His gross profit is:
Question # 10
A bill of exchange is drawn by
Question # 11
Interest on renewal of a bill is the expense of
Question # 12
Retiring a bill under rebate means
Question # 13
When is a drawee is declared insolvent which account is to be debited in the books of drawer
Question # 14
When a drawer discounts a bill, he debits
Question # 15
All those expenses which are incurred to convert raw-materials into finished goods are called:
11th Principles of Accounting Chapter 3 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 3 Analysis of Business Transactions and Double Entry System Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 3 "Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test" MCQ`s Test
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U Usman 21 - May - 2024 00 Min 17 Sec 15/15 -
U usman saghir 25 - Apr - 2024 03 Min 20 Sec 15/15 -
M Muhammad Irfan 31 - Jan - 2024 02 Min 41 Sec 14/15 -
L laiba sehroosh 20 - May - 2024 03 Min 44 Sec 13/15 -
S Subhan Baig 19 - Jul - 2024 04 Min 02 Sec 13/15 -
K King Anas 29 - Apr - 2024 05 Min 00 Sec 13/15 -
A Abeer 06 - Feb - 2024 03 Min 10 Sec 12/15 -
D Dayyan Zakir 15 - Mar - 2024 03 Min 55 Sec 12/15 -
S Sania Butt 07 - Jun - 2024 08 Min 21 Sec 12/15 -
M Mr Khani 29 - Apr - 2024 03 Min 34 Sec 11/15 -
K kalsoom 11 - Jan - 2024 03 Min 36 Sec 11/15 -
W Waj Khan 15 - Dec - 2023 02 Min 55 Sec 10/15 -
M Moiz Mirza 26 - Apr - 2024 03 Min 08 Sec 10/15 -
M Maher Naveed 25 - Dec - 2023 03 Min 42 Sec 10/15 -
U uzma zubair 29 - Apr - 2024 06 Min 41 Sec 10/15
Test Questions