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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 favourable balance of bank statement is
Question # 2
The book in which all cash transactions are primarily recorded is called
Question # 3
Book used to record petty expenses and receipts
Question # 4
When saleable goods are bought in a business are called:
Question # 5
The excess of gross profit on sale over total operating expenses is called:
Question # 6
How many columns are drawn on one side of three column cash book ?
Question # 7
In accounting all business transactions are recorded which have:
Question # 8
An Entry which is recorded on the both sides of cash book is called
Question # 9
Discount deducted from the catalogue or list price is called:
Question # 10
Our cheque to Babar & Bros, returned dishonoured should be credited to
Question # 11
In journalizing the page numbers of the ledgers are written in:
Question # 12
Cash account is concerned with:
Question # 13
The owner of the business is known as:
Question # 14
A cash account always shows
Question # 15
The most exhaustive cash book is
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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W Wasif Mehmood 03 - Nov - 2023 00 Min 24 Sec 14/15 -
A Ayan Ahmed 01 - May - 2024 00 Min 58 Sec 14/15 -
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F Fatima Asif 23 - May - 2024 02 Min 31 Sec 12/15 -
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ICom Part 1 Principles of Accounting Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Credit Balance of pass book must be equal to debit balance of |
A. Cash Book
B. Bank Ledger
C. Clients other Account
D. None of these
|
| 2 | 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
|
| 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 | Retiring a bill under rebate means: |
A. Making payment for the bill before the due date
B. Making payment for the bill after the due date
C. Dishonouring bill
D. None of the above
|
| 6 | Bank Reconciliation represents |
A. A Journal
B. A Ledger
C. A Statement
D. both a and c
|
| 7 | In accounting all business transactions are recorded which have: |
A. Dual aspect
B. Single aspect
C. None of the above
D. Economic aspect
|
| 8 | The balance of petty cash book is a/an |
A. Asset
B. Liability
C. Expense
D. Income
|
| 9 | When ban column of a cash book shows a debit balance it means: |
A. Overdraft as per bank
B. Unfavourable balance as per cash book
C. Favourable balance as per cash book
D. Favourable balance as per pass book
|
| 10 | 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
|
Test Questions