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 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

An Entry which is recorded on the both sides of cash book is called

Question # 2

The cash book is a 

Question # 3

Retiring a bill under rebate means:

Question # 4

Our cheque to Babar & Bros, returned dishonoured should be credited to

Question # 5

In three column cash book, discount column is

Question # 6

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

Question # 7

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

Question # 8

Unfavourable balance means

Question # 9

How many columns are drawn on one side of three column cash book ?

Question # 10

Which column is prepared in single column cash book?

Question # 11

Cash account is concerned with:

Question # 12

The favourable balance of bank statement is

Question # 13

When boan statement shown a debit total balance it means:

Question # 14

When ban column of a cash book shows a debit balance it means:

Question # 15

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

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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 The favourable balance of bank statement is
A. Credit Balance
B. Debit Balance
C. Zero Balance
D. Both b and c
2 The cash book is a 
A. Subsidiary Journal
B. Ledger Account
C. Subsidiary Journal and Ledger
D. Trial Balance
3 Which column is prepared in single column cash book?
A. Bank Column
B. Cash Column
C. Discount Column
D. All of the Above
4 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
5 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
6 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
7 Cash account is concerned with:
A. Real account
B. Personal account
C. Nominal account
D. Capital account
8 When saleable goods are bought in a business are called:
A. Sales 
B. Purchase
C. Assets
D. Goods
9 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
10 A cash account always shows
A. Debit Balance
B. Credit Balance
C. Both a and b
D. Nil Balance

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