Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
.jpg)
This online test contains MCQs about following topics:
. Definition . How a bill of exchange works? . How transactions relating to bills of exchange are recorded? . Accounting treatment for bills receivale and bills payable . Discounting of a bill of exchange: Another use of bill . Endorsement . bank for collection . Dishonour of a bill of exchange . Renewal of a bill . Difference between dishonour and renewal of a bill . Bills receivable and bills payable books . Promissory Note . Effect of insolvency
ICOM Part 1 Accounting Ch 6 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 6 "Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test"
-
Total Questions15
-
Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
Error of principle involves an incorrect allocation of expenditure or receipt between.
Question # 2
Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.
Question # 3
Bad debts are
Question # 4
An error completely omitted to be entered in the journal
Question # 5
Premium on issue of shares of a company represents
Question # 6
Wrong allocation of capital and revenue items of expenses represents
Question # 7
Any expenditure incurred to increase the earning capacity of a business
Question # 8
An expenditure incurred in increasing the efficiency of a fixed asset is called:
Question # 9
Goods sold to Ali for Rs. 50,000 recorded in purchases day book will affect
Question # 10
If sales return for Rs. 3,000 were incorrectly included in sales book, gross profit will be
Question # 11
Any difference in trial balance is transferred to
Question # 12
A credit sale was wrongly passed through purchases book, the rectification of the entry will:
Question # 13
Which one of the following is appeared in the balance sheet ?
Question # 14
The revenue profit should be transferred to:
Question # 15
A receipt is revenue in nature, if it relates to:
11th Principles of Accounting Chapter 6 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 6 Accounting for Bills of Exchange Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 6 "Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
-
F Fatima Asif 23 - May - 2024 01 Min 45 Sec 15/15 -
H hamza abid 13 - Jul - 2022 10 Min 50 Sec 15/15 -
F Faizan Bakhsh 27 - Nov - 2023 00 Min 59 Sec 13/15 -
B BTS lifeline 24 - Jun - 2023 01 Min 15 Sec 12/15 -
S Subhan Baig 19 - Jul - 2024 02 Min 38 Sec 12/15 -
S Sania Butt 28 - May - 2024 03 Min 24 Sec 12/15 -
R Rabia Javaid 10 - Mar - 2023 05 Min 14 Sec 12/15 -
N Niaz 16 - Sep - 2022 01 Min 26 Sec 11/15 -
K KHALIL UR REHAMAN 25 - Aug - 2022 02 Min 13 Sec 11/15 -
Z Zahid javed Butt 08 - Jun - 2024 02 Min 44 Sec 11/15 -
A Abdullah Zafar 20 - Sep - 2023 03 Min 16 Sec 11/15 -
N Neon Killer 13 - Jul - 2022 03 Min 18 Sec 11/15 -
M Mudassar Ali 14 - Jun - 2023 03 Min 22 Sec 11/15 -
K KHALIL UR REHAMAN 25 - Aug - 2022 02 Min 06 Sec 10/15 -
S Sohera Aslam 18 - Aug - 2023 02 Min 57 Sec 10/15
ICom Part 1 Principles of Accounting Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Unearned income are known as: |
A. Incomes
B. Expenses
C. Liabilities
D. Assets
|
| 2 | Which account will be created in the presence of suspense account, if sales book is undercast by Rs. 500 |
A. suspense A/c
B. sales A/c
C. cash A/c
D. none of above
|
| 3 | A receipt is revenue receipt because |
A. the amount is small
B. it relates to routine activity of business
C. it is received in the accounting year
D. both b, c
|
| 4 | The profit which is earned during the ordinary course of business is regarded as: |
A. Capital profit
B. Revenue profit
C. Revenue loss
D. Long term profit
|
| 5 | Premium on issue of shares of a company represents |
A. capital loss
B. capital profit
C. capital payment
D. none of these
|
| 6 | The revenue profit should be transferred to: |
A. Balance sheet
B. Trading account
C. Profit and loss account
D. None of these
|
| 7 | Which one of the following is appeared in the balance sheet ? |
A. revenue expenditure
B. capital expenditure
C. deferred revenue
D. both b,c
|
| 8 | Any expenditure incurred to increase the earning capacity of a business |
A. capital expenditure
B. capital loss
C. revenue loss
D. revenue expenditure
|
| 9 | Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will. |
A. Increase the net profit
B. Decrease the net profit
C. Have double effect on net profit
D. Have no effect on net profit
|
| 10 | Wrong allocation of capital and revenue items of expenses represents |
A. error of casting
B. error of principle
C. compensation error
D. error of commission
|
Test Questions