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

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  • Available questions35
  • Chapter Name3

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

  • Total Questions15

  • Time Allowed20

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

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Question # 1

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

Question # 2

Accommodation bills are drawn accepted and endorsed

Question # 3

How many parties are involved in case of Discounting of a bill ?

Question # 4

A bill from the point of view of a debtor is called

Question # 5

The time after which the bill is to be paid

Question # 6

Interest on renewal of a bill is the expense 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

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

Question # 9

A many buy  Rs. 40,000 worth good and sells them for Rs. 50,000. His gross profit is:

Question # 10

When a drawer discounts a bill, he debits

Question # 11

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

Question # 12

A bill of exchange is a method of payment on

Question # 13

Narration is always written:

Question # 14

A bill of exchange is drawn by

Question # 15

When a drawee honours his acceptance, he will credit

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