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

Net profit is always

Question # 2

The debts, the recovery of which is uncertain are called

Question # 3

Income tax paid is a

Question # 4

In adjusting the cash balance one of the following is not taken into account:

Question # 5

Goods withdrawn by the proprietor for personal use should be credited to

Question # 6

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

Question # 7

Income received in advance during the year is

Question # 8

Interest paid on loan is

Question # 9

Interest on drawing is debited to

Question # 10

Wages paid for installing a machine should be debited to

Question # 11

Any mistake in ledger can be easily detected with the help of:

Question # 12

Bad debts recovered should be credited to

Question # 13

Profit & Loss a/c is prepared to ascertain

Question # 14

Goodwill, patent, copyright are classified as

Question # 15

Net Profit is transferred to

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