First Year Principles of Accounting Chapter 4 Online MCQ Test for 1st Year Principles of Accounting Chapter 4 (Journal The Original Book of Entry)

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
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ICOM Part 1 English Medium Subjects

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English
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ICOM Part 1 Urdu Medium Subjects

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Principles of Accounting

MCQ's Test For Chapter 4 "Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test"

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Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test

00:00
Question # 1

Cash account is concerned with:

Question # 2

Cheques issued to a creditor but not presented for payment are called

Question # 3

In three column cash book, discount column is

Question # 4

The excess of gross profit on sale over total operating expenses is called:

Question # 5

Bank Reconciliation represents

Question # 6

The balance of petty cash book is a/an

Question # 7

Which column is prepared in single column cash book?

Question # 8

Contra Refers to

Question # 9

Pass book is prepared by

Question # 10

Discount deducted from the catalogue or list price is called:

Question # 11

The favourable balance of bank statement is

Question # 12

Petty cash book is a branch of

Question # 13

The book in which all cash transactions are primarily recorded is called

Question # 14

In journalizing the page numbers of the ledgers are written in:

Question # 15

Bank reconciliation statement is prepared by

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11th Principles of Accounting Chapter 4 Test

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ICom Part 1 Principles of Accounting Chapter 4 Important MCQ's

Sr.# Question Answer
1 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
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 In form journal, the first column represents:
A. Ledger Folio
B. Data
C. Amount
D. Debit
4 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
5 The book in which all cash transactions are primarily recorded is called
A. Cheque Book
B. Pass Book
C. Cash Book
D. Finance Book
6 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
7 All the direct expenses are charged to:
A. Balance sheet
B. Profit and loss account
C. Trading account
D. None of these
8 Discount deducted from the catalogue or list price is called:
A. Trade discount
B. Cash discount
C. Catalogue discount
D. Credit discount
9 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
10 The cash book is a 
A. Subsidiary Journal
B. Ledger Account
C. Subsidiary Journal and Ledger
D. Trial Balance

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