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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
Goods withdrawn by the proprietor for personal use should be credited to
Question # 2
Office rent is a
Question # 3
Gross profit represents
Question # 4
Goodwill, patent, copyright are classified as
Question # 5
Net profit is always
Question # 6
Net Sales represent
Question # 7
From business point of view, interest on capital is considered as
Question # 8
The account of depreciation of building of Rs. 30,000 at 5% p.a. will be
Question # 9
Assets come into existence upon the happening of a certain event, are called:
Question # 10
The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points:
Question # 11
Interest paid on loan is
Question # 12
The creditor of the business are called:
Question # 13
Profit & Loss a/c is prepared to ascertain
Question # 14
Net Profit is transferred to
Question # 15
Cash account is a:
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 | In adjusting the cash balance one of the following is not taken into account: |
A. Mistakes in the cash book
B. Mistake in the bank statement
C. Interest and dividends credited in the bank statement
D. None of the abvove
|
| 2 | The const concept applied only to the assets and not to: |
A. Expenses
B. Liabilities
C. Incomes
D. None of these
|
| 3 | 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
|
| 4 | Bad debts recovered should be credited to |
A. Balance Sheet
B. Trading a/c
C. Profit & Loss a/c
D. None of these
|
| 5 | A bill from the point of view of a creditor is called a: |
A. Bill payable
B. Bill receivable
C. Bil acceptable
D. Bill rejectable
|
| 6 | Financial accounting is mainly confined to preparation of: |
A. Manufacturing statement
B. Financial statements
C. Production statement
D. Sale statement
|
| 7 | From business point of view, interest on capital is considered as |
A. An income
B. An Expense
C. A Profit
D. A Liability
|
| 8 | Office rent is a |
A. Financial Expense
B. Abnormal Loss
C. Management Expense
D. Maintenance Expense
|
| 9 | Goodwill, patent, copyright are classified as |
A. Current Assets
B. Fixed Assets
C. Tangible Assets
D. Wasting Assets
|
| 10 | Gross profit represents |
A. Opening stock + purchases
B. closing stock + direct expenses - sales
C. closing stock-purchases-direct expenses + sales
D. purchases - sales
|
Test Questions