Principles of accounting Icom Part 1 English Medium Online Test

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  • Available questions396
  • Chapter Name1

Principles of accounting Icom Part 1 English Medium Online Test

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Online Test

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Question # 1

A bill of exchange is a / an

Question # 2

Any activity undertaken for the purpose of earning profit is called:

Question # 3

______ simplifies work to be done at the end of the period

Question # 4

Trading account is the account which is prepared to determine the:

Question # 5

The Principle book of accounts is

Question # 6

A bill of exchange contains:

Question # 7

The favourable balance of bank statement is

Question # 8

All cash purchases and cash sales are recorded in

Question # 9

Allowance for doubtful debts normally has a

Question # 10

An expenditure, incurred to improve the position of the business is known as

Question # 11

It is prepared to determine the net profit or net loss

Question # 12

Income tax paid is a

Question # 13

Accounting records of a business enterprise are required by

Question # 14

All the transactions related to credit sales are recorded in

Question # 15

When cheque received, and deposited into bank, bank account must be

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