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11th Principles of Accounting Chapter 5 Test

Here you can prepare 11th Principles of Accounting English Medium Chapter 5 Ledger Test. Click the button for 100% free full practice test.

First Year Principles of Accounting Chapter 5 Online MCQ Test for 1st Year Principles of Accounting Chapter 5 (Ledger)

This online test contains MCQs about following topics:

. What is ledger . Features . Forms of ledger accounts . Posting procedure . Balancing an account . Normal balances . Posting procedure illustrated . self-balancing form of ledger account . Trail balance . Methods of preparing trail balance . Accounting cycle to the trial balance

ICOM Part 1 Accounting Ch 5 Test
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First Year Principles of Accounting Chapter 5 Online MCQ Test for 1st Year Principles of Accounting Chapter 5 (Ledger)

Sr. # Questions Answers Choice
1 Net profit is always
  • A. Equal to gross profit
  • B. more than gross profit
  • C. Less than gross profit
  • D. None of these
2 Income tax paid is a
  • A. Business Expense
  • B. Business Revenue
  • C. Business Liability
  • D. Personal Expense
3 Office rent is a
  • A. Financial Expense
  • B. Abnormal Loss
  • C. Management Expense
  • D. Maintenance Expense
4 Loss of good by fire should be credited to:
  • A. Purchase account
  • B. Sales account
  • C. Loss by goods by fire account
  • D. Capital account
5 Interest paid on loan is
  • A. Abnormal Loss
  • B. Financial Expenses
  • C. Management Expenses
  • D. Maintenance Expenses
6 The balance of the 'Caha Column' in cash book is always:
  • A. Debit balance
  • B. Credit balance
  • C. Both debit and credit balance
  • D. None of the above
7 Any mistake in ledger can be easily detected with the help of:
  • A. Journal 
  • B. Balance sheet
  • C. Trial balance
  • D. Financial statement
8 The const concept applied only to the assets and not to:
  • A. Expenses
  • B. Liabilities
  • C. Incomes
  • D. None of these
9 Rent account' is a kind of:
  • A. Real account
  • B. Personal account
  • C. Nominal account
  • D. <div>Capital account</div>
10 Gross profit is derived from
  • A. Trading a/c
  • B. Profit &amp; Loss a/c
  • C. Trial Balance
  • D. Balance Sheet

Top Scorers of Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test

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Lahore07 - Feb - 2024

11/15
02 Mins 08 Sec
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9/15
02 Mins 09 Sec
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8/15
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8/15
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