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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
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Question # 1
Petty cash book is a branch of
Question # 2
Credit Balance of pass book must be equal to debit balance of
Question # 3
When boan statement shown a debit total balance it means:
Question # 4
The favourable balance of bank statement is
Question # 5
Which column is prepared in single column cash book?
Question # 6
In three column cash book, discount column is
Question # 7
The excess of gross profit on sale over total operating expenses is called:
Question # 8
A cash account always shows
Question # 9
An Entry which is recorded on the both sides of cash book is called
Question # 10
Contra Refers to
Question # 11
All the time of endorsement of a bill the drawer credits:
Question # 12
Book used to record petty expenses and receipts
Question # 13
When saleable goods are bought in a business are called:
Question # 14
Retiring a bill under rebate means:
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.
Top Scorers Of Chapter 4 "Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test" MCQ`s Test
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ICom Part 1 Principles of Accounting Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In form journal, the first column represents: |
A. Ledger Folio
B. Data
C. Amount
D. Debit
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| 2 | How many columns are drawn on one side of three column cash book ? |
A. Five Columns
B. Six Columns
C. Seven Columns
D. Eight Columns
|
| 3 | Cheques issued to a creditor but not presented for payment are called |
A. Un Credited Cheques
B. Uncollected Cheques
C. Un Presented Cheques
D. Dishonoured Cheques
|
| 4 | The owner of the business is known as: |
A. Sale man
B. Agent
C. Proprietor
D. Employee
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| 5 | Book used to record petty expenses and receipts |
A. Single Column Cash Book
B. Petty Cash Book
C. Double Column Cash Book
D. Treble Column Cash Book
|
| 6 | Discount deducted from the catalogue or list price is called: |
A. Trade discount
B. Cash discount
C. Catalogue discount
D. Credit discount
|
| 7 | 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
|
| 8 | The book in which all cash transactions are primarily recorded is called |
A. Cheque Book
B. Pass Book
C. Cash Book
D. Finance Book
|
| 9 | The balance of petty cash book is a/an |
A. Asset
B. Liability
C. Expense
D. Income
|
| 10 | When saleable goods are bought in a business are called: |
A. Sales
B. Purchase
C. Assets
D. Goods
|
Test Questions