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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Principles of Accounting
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English
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ICOM Part 1 Urdu Medium Subjects

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Principles of Commerce
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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

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Question # 1

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

Question # 2

Pass book is prepared by

Question # 3

Cash account is concerned with:

Question # 4

Retiring a bill under rebate means:

Question # 5

When saleable goods are bought in a business are called:

Question # 6

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

Question # 7

Bank reconciliation statement is prepared by

Question # 8

In form journal, the first column represents:

Question # 9

The favourable balance of bank statement is

Question # 10

All the direct expenses are charged to:

Question # 11

The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:

Question # 12

Discount deducted from the catalogue or list price is called:

Question # 13

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

Question # 14

In three column cash book, discount column is

Question # 15

Bank Reconciliation represents

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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 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
2 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
3 The balance of petty cash book is a/an
A. Asset
B. Liability
C. Expense
D. Income
4 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
5 Bank reconciliation statement is prepared by
A. Banker
B. Customers Accountant
C. Auditor
D. Manager
6 The book in which all cash transactions are primarily recorded is called
A. Cheque Book
B. Pass Book
C. Cash Book
D. Finance Book
7 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
8 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
9 All the time of endorsement of a bill the drawer credits:
A. The drawee account
B. The endorser's personal account
C. Bill receivable account
D. Endorser's account
10 In accounting all business transactions are recorded which have:
A. Dual aspect
B. Single aspect
C.  None of the above
D. Economic aspect

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