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

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  • Available questions35
  • Chapter Name5

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

  • Total Questions15

  • Time Allowed20

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

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Question # 1

Profit & Loss a/c is prepared to ascertain

Question # 2

Income received in advance during the year is

Question # 3

Office rent is a

Question # 4

The const concept applied only to the assets and not to:

Question # 5

From business point of view, interest on capital is considered as

Question # 6

Goods withdrawn by the proprietor for personal use should be credited to

Question # 7

The person to whom a bill is addressed is the:

Question # 8

Goodwill, patent, copyright are classified as

Question # 9

Income tax paid is a

Question # 10

A bill from the point of view of a creditor is called a:

Question # 11

Assets come into existence upon the happening of a certain event, are called:

Question # 12

Interest on drawing is debited to

Question # 13

Interest paid on loan is

Question # 14

Wages paid for installing a machine should be debited to

Question # 15

The money with which business is started is known as:

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