Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

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  • Available questions35
  • Chapter Name6

Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

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Question # 1

Any expenditure incurred to increase the earning capacity of a business

Question # 2

A transaction has been journalized but posted wrongly in the ledger account, it is an:

Question # 3

Capital contributed by the partners is a:

Question # 4

Capitalized expenditures are shown in

Question # 5

The capital profit should be transferred to:

Question # 6

Goods sold to Ali for Rs. 50,000 recorded in purchases day book will affect

Question # 7

The revenue profit should be transferred to:

Question # 8

Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.

Question # 9

The profit which is earned during the ordinary course of business is regarded as:

Question # 10

A receipt is revenue receipt because

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

Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to:

Question # 14

Errors which affect one account can be

Question # 15

Receipts, which are non-recurring by nature, are called

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