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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
Credit Balance of pass book must be equal to debit balance of
Question # 3
Cheques issued to a creditor but not presented for payment are called
Question # 4
A cash account always shows
Question # 5
Discount deducted from the catalogue or list price is called:
Question # 6
When ban column of a cash book shows a debit balance it means:
Question # 7
Bank Reconciliation represents
Question # 8
The excess of gross profit on sale over total operating expenses is called:
Question # 9
In form journal, the first column represents:
Question # 10
How many columns are drawn on one side of three column cash book ?
Question # 11
The cash book is a
Question # 12
Contra Refers to
Question # 13
Our cheque to Babar & Bros, returned dishonoured should be credited to
Question # 14
All the direct expenses are charged to:
Question # 15
When boan statement shown a debit total balance it means:
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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W Waj Khan 15 - Dec - 2023 03 Min 07 Sec 13/15 -
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F Fatima Asif 23 - May - 2024 02 Min 31 Sec 12/15 -
A Abeer 06 - Feb - 2024 03 Min 28 Sec 12/15 -
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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 | 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
|
| 2 | 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
|
| 3 | Discount deducted from the catalogue or list price is called: |
A. Trade discount
B. Cash discount
C. Catalogue discount
D. Credit discount
|
| 4 | Contra Refers to |
A. Same Side
B. Parallel Side
C. Opposite Side
D. None of these
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| 5 | 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
|
| 6 | A cash account always shows |
A. Debit Balance
B. Credit Balance
C. Both a and b
D. Nil Balance
|
| 7 | 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
|
| 8 | Bank reconciliation statement is prepared by |
A. Banker
B. Customers Accountant
C. Auditor
D. Manager
|
| 9 | The owner of the business is known as: |
A. Sale man
B. Agent
C. Proprietor
D. Employee
|
| 10 | All the direct expenses are charged to: |
A. Balance sheet
B. Profit and loss account
C. Trading account
D. None of these
|
Test Questions
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07 Mar 2018hello friends