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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
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test"
Try The MCQ's Test For Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test"
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test
00:00
Question # 1
A bill from the point of view of a creditor is called a:
Question # 2
Net Sales represent
Question # 3
The concession given by the supplier to the buyer on purchases of good is known as:
Question # 4
Income tax paid is a
Question # 5
From business point of view, interest on capital is considered as
Question # 6
Goodwill, patent, copyright are classified as
Question # 7
The debts, the recovery of which is uncertain are called
Question # 8
The bad debts which are showed in the trial balance are called
Question # 9
The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points:
Question # 10
In adjusting the cash balance one of the following is not taken into account:
Question # 11
Net profit is always
Question # 12
Interest on drawing is debited to
Question # 13
Bad debts recovered should be credited to
Question # 14
Office rent is a
Question # 15
Rent account' is a kind of:
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.
Top Scorers Of Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test" MCQ`s Test
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Z Zahid javed Butt 08 - Jun - 2024 01 Min 38 Sec 14/15 -
W Waj Khan 15 - Dec - 2023 01 Min 55 Sec 14/15 -
A Abdullah Zafar 20 - Sep - 2023 01 Min 56 Sec 14/15 -
F Fatima Asif 22 - May - 2024 09 Min 31 Sec 14/15 -
T Taiba Siddique 30 - May - 2024 00 Min 08 Sec 13/15 -
A Alishba Pervaiz 24 - Jun - 2023 01 Min 49 Sec 12/15 -
S Sania Butt 28 - May - 2024 02 Min 01 Sec 12/15 -
I ishrat fatima 07 - Jun - 2024 01 Min 17 Sec 11/15 -
A Abeer 07 - Feb - 2024 02 Min 08 Sec 11/15 -
A Ayan Ahmed 01 - May - 2024 01 Min 54 Sec 10/15 -
M Mudassar Ali 12 - Jun - 2023 03 Min 55 Sec 10/15 -
L Laraib Zaman 16 - Jun - 2023 03 Min 56 Sec 10/15 -
S Sohera Aslam 18 - Aug - 2023 02 Min 12 Sec 9/15 -
S Subtain Ahmed Raza 22 - Jul - 2023 03 Min 17 Sec 9/15 -
W Waqas Khan 02 - Oct - 2023 04 Min 20 Sec 9/15
ICom Part 1 Principles of Accounting Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Profit & Loss a/c is prepared to ascertain |
A. Gross Profit
B. Net Profit
C. Gross Loss
D. Real Profit
|
| 2 | Goodwill, patent, copyright are classified as |
A. Current Assets
B. Fixed Assets
C. Tangible Assets
D. Wasting Assets
|
| 3 | Interest on drawing is debited to |
A. Capital
B. Drawings
C. Sundry Creditors
D. Outstanding expense
|
| 4 | Wages paid for installing a machine should be debited to |
A. Wages a/c
B. Cash a/c
C. Machinery a/c
D. none of these
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| 5 | Income received in advance during the year is |
A. Prepaid Expenses
B. Accrued Income
C. Advance Expenses
D. Advance Income
|
| 6 | 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
|
| 7 | Cash account is a: |
A. Personal account
B. Real account
C. Nominal account
D. Both real and personal account
|
| 8 | Bad debts recovered should be credited to |
A. Balance Sheet
B. Trading a/c
C. Profit & Loss a/c
D. None of these
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| 9 | The bad debts which are showed in the trial balance are called |
A. new bad debts
B. old bad debts
C. further bad debts
D. additional bad debts
|
| 10 | The money with which business is started is known as: |
A. Capital
B. Creditor
C. Income
D. Debtor
|
Test Questions
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