ICOM Part 1 Principles of Accounting English Medium Chapter 5 MCQ's Test

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

ICOM Part 1 Principles of Accounting English Medium Chapter 5 MCQ's 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 Office rent is a
  • A. Financial Expense
  • B. Abnormal Loss
  • C. Management Expense
  • D. Maintenance Expense
2 The concession given by the supplier to the buyer on purchases of good is known as:
  • A. Sales discount
  • B. Trade discount
  • C. Purchase discount
  • D. Discount received
3 The const concept applied only to the assets and not to:
  • A. Expenses
  • B. Liabilities
  • C. Incomes
  • D. None of these
4 Any mistake in ledger can be easily detected with the help of:
  • A. Journal 
  • B. Balance sheet
  • C. Trial balance
  • D. Financial statement
5 The account of depreciation of building of Rs. 30,000 at 5% p.a. will be
  • A. Rs. 20,00
  • B. Rs. 15,00
  • C. Rs. 25,00
  • D. Rs. 5,00
6 Profit & Loss a/c is prepared to ascertain
  • A. Gross Profit
  • B. Net Profit
  • C. Gross Loss
  • D. Real Profit
7 Bad debts recovered should be credited to
  • A. Balance Sheet
  • B. Trading a/c
  • C. Profit & Loss a/c
  • D. None of these
8 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
9 The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points:
  • A. Rs. 200 will be deducted
  • B. Rs. 200 will be added
  • C. Rs. 400 will be added
  • D. Rs. 400 will be deducted
10 Net Sales represent
  • A. Sales - return outwards
  • B. Sales - return inwards
  • C. Sales - return to supplier
  • D. both b and c

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

Z

Zain Irfan

Lahore18 - Apr - 2025

10/15
06 Mins 06 Sec
P

Pioneer Pipes

Lahore12 - Jun - 2025

8/15
03 Mins 20 Sec

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