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This online test contains MCQs about following topics:
. Need and importance if accounting . Journal: 1st phase of accounting cycle . Definition . Characteristics . Narration . Advantages of journal . Simple entry & compound entry
ICOM Part 1 Accounting Ch 4 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 4 "Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 4 "Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test"
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test
00:00
Question # 1
The owner of the business is known as:
Question # 2
Book used to record petty expenses and receipts
Question # 3
The favourable balance of bank statement is
Question # 4
Credit Balance of pass book must be equal to debit balance of
Question # 5
Cash account is concerned with:
Question # 6
Bank Reconciliation represents
Question # 7
The rules of the debiting the receiving and crediting the giver is applicable to:
Question # 8
When saleable goods are bought in a business are called:
Question # 9
In three column cash book, discount column is
Question # 10
Bank reconciliation statement is prepared by
Question # 11
An Entry which is recorded on the both sides of cash book is called
Question # 12
The cash book is a
Question # 13
All the time of endorsement of a bill the drawer credits:
Question # 14
The balance of petty cash book is a/an
Question # 15
Cheques issued to a creditor but not presented for payment are called
11th Principles of Accounting Chapter 4 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 4 Journal The Original Book of Entry Test. Click the button for 100% free full practice test.
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A Ayan Ahmed 01 - May - 2024 00 Min 58 Sec 14/15 -
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M Muhammad Irfan 31 - Jan - 2024 02 Min 42 Sec 11/15
ICom Part 1 Principles of Accounting Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | An Entry which is recorded on the both sides of cash book is called |
A. Simple Entry
B. Compound Entry
C. Combined Entry
D. Contra Entry
|
| 2 | Our cheque to Babar & Bros, returned dishonoured should be credited to |
A. Cheque Account
B. Cash Account
C. Bank Account
D. Babar & Bros A/c
|
| 3 | Cash account is concerned with: |
A. Real account
B. Personal account
C. Nominal account
D. Capital account
|
| 4 | Discount deducted from the catalogue or list price is called: |
A. Trade discount
B. Cash discount
C. Catalogue discount
D. Credit discount
|
| 5 | The owner of the business is known as: |
A. Sale man
B. Agent
C. Proprietor
D. Employee
|
| 6 | The rules of the debiting the receiving and crediting the giver is applicable to: |
A. Persona account
B. Real account
C. Nominal account
D. Expense account
|
| 7 | When boan statement shown a debit total balance it means: |
A. Overdraft as per cash book
B. Unfavourable balance as per cash book
C. Favourable balance as per cash book
D. Overdraft as per bank statement
|
| 8 | The excess of gross profit on sale over total operating expenses is called: |
A. Cost of goods sold
B. Gross profit
C. Net profit
D. None-operating income
|
| 9 | Unfavourable balance means |
A. Credit Balance in the Pass Book
B. Credit Balance in the Cash Book
C. Debit Balance in Bank Statement
D. Both b and c
|
| 10 | In three column cash book, discount column is |
A. Totaled
B. Balanced
C. Carry Forward
D. Both a and b
|
Test Questions
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07 Mar 2018hello friends