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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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

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

Question # 2

The owner of the business is known as:

Question # 3

Cash account is concerned with:

Question # 4

Credit Balance of pass book must be equal to debit balance of

Question # 5

A cash account always shows

Question # 6

The rules of the debiting the receiving and crediting the giver is applicable to:

Question # 7

Bank Reconciliation represents

Question # 8

Unfavourable balance means

Question # 9

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

Question # 10

Petty cash book is a branch of

Question # 11

In three column cash book, discount column is

Question # 12

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

Question # 13

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

Question # 14

Bank reconciliation statement is prepared by

Question # 15

The favourable balance of bank statement is

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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 The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:
A. Receipt voucher
B. Payment voucher
C. Cash voucher
D. Cash memo
3 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
4 In accounting all business transactions are recorded which have:
A. Dual aspect
B. Single aspect
C.  None of the above
D. Economic aspect
5 The owner of the business is known as:
A. Sale man
B. Agent
C. Proprietor
D. Employee
6 A cash account always shows
A. Debit Balance
B. Credit Balance
C. Both a and b
D. Nil Balance
7 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
8 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
9 The cash book is a 
A. Subsidiary Journal
B. Ledger Account
C. Subsidiary Journal and Ledger
D. Trial Balance
10 The balance of petty cash book is a/an
A. Asset
B. Liability
C. Expense
D. Income
11 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
12 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
13 When saleable goods are bought in a business are called:
A. Sales 
B. Purchase
C. Assets
D. Goods
14 In form journal, the first column represents:
A. Ledger Folio
B. Data
C. Amount
D. Debit
15 Petty cash book is a branch of
A. Pass Book
B. Cash Book
C. Journal
D. Ledger

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