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Principles of accounting are the main subject for the I.com students. There are general rules and concepts that governor the field of accounting.
Ilmkidunya provides the great opportunity to the students to provide the latest outline of the paper. This Principle of accounting online test makes the students more competent and proficient on the theory of the book. Objective is the essential part of the paper. There is 20% paper consist of the objective. If the students want to get the good grades, the students have to solve this part.
ICOM Part 1 Accounting Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
Thousands of question is made by the professional and expert teachers. Students can easily get grasp on all the theory and objective as well. After attempting this MCQ online test, students are able to well perform in the papers and pass the exams with brilliant success. Students can also judge their ability and skills after solving the test. Students can do this online test many times until they make sure about the accuracy of the test.
In this online test we come to know the overall rules –referred to as basic accounting principles and rules Principles of accounting online test students can get grip on the introduction to accounting basics, Blance sheet Assets, balance sheet liabilities and stock holder equities, statements on cash flows, double entry system sample transition no. it is advised to the students to solve this online test to get good grades in the exams.
Principles of accounting Icom Part 1 English Medium Online Test
Try The Principles of accounting Icom Part 1 English Medium Online Test
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Online Test
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Question # 1
Retiring a bill under rebate means
Question # 2
The periodical total of purchases book is posted to the
Question # 3
Net profit is always
Question # 4
The amount invested by the owner in the business to produce revenue is known as
Question # 5
Office rent is a
Question # 6
The recording of transaction chronologically in the book of accounts is called:
Question # 7
Accommodation bills are drawn accepted and endorsed
Question # 8
Record of business transaction in the journal is called
Question # 9
Wages paid for the erection of machine debited to wages account is an example of
Question # 10
The concept of conservation will have the effect of:
Question # 11
Sales are equal to
Question # 12
From the business point of view, interest on drawings is
Question # 13
In double entry system of bookkeeping every business transaction affects:
Question # 14
From business point of view, interest on capital is considered as
Question # 15
Errors of omission affects
Here is List Of Chapter Wise Tests
| Ch. # | Test Name | MCQs Available | PDF File | Launch Test |
|---|---|---|---|---|
| 1 | Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test | 35 | Download PDF | Launch Test |
| 2 | Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test | 36 | Download PDF | Launch Test |
| 3 | Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test | 35 | Download PDF | Launch Test |
| 4 | Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test | 35 | Download PDF | Launch Test |
| 5 | Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test | 35 | Download PDF | Launch Test |
| 6 | Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test | 35 | Download PDF | Launch Test |
| 7 | Principles of accounting Icom Part 1 English Medium Chapter 7 Online Test | 18 | Download PDF | Launch Test |
| 8 | Principles of accounting Icom Part 1 English Medium Chapter 8 Online Test | 25 | Download PDF | Launch Test |
| 9 | Principles of accounting Icom Part 1 English Medium Chapter 9 Online Test | 25 | Download PDF | Launch Test |
| 10 | Principles of accounting Icom Part 1 English Medium Chapter 10 Online Test | 25 | Download PDF | Launch Test |
| 11 | Principles of accounting Icom Part 1 English Medium Chapter 11 Online Test | 22 | Download PDF | Launch Test |
| 12 | Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test | 20 | Download PDF | Launch Test |
| 13 | Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test | 25 | Download PDF | Launch Test |
| 14 | Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test | 25 | Download PDF | Launch Test |
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ICom Part 1 Principles of Accounting Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Interest due but not received is an |
A. Outstanding expense
B. Accrued income
C. Prepaid expense
D. Unearned income
|
| 2 | Interest on renewal of a bill is the expense of |
A. Drawer
B. Drawee
C. Holder
D. Endorsee
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| 3 | Net profit is equal to |
A. Gross profit - expenses
B. Sales - Cost of goods sold
C. Sales - expenses
D. Capital - expenses
|
| 4 | Goodwill, patent, copyright and trade mark are |
A. Wasting assets
B. Intangible assets
C. Fictitious assets
D. Liquid assets
|
| 5 | Which column is prepared in single column cash book? |
A. Bank Column
B. Cash Column
C. Discount Column
D. All of the Above
|
| 6 | Bank reconciliation statement is prepared by |
A. Banker
B. Customers Accountant
C. Auditor
D. Manager
|
| 7 | ______ is prepared to avoid errors in the permanent records of accounting |
A. Work sheet
B. Ledger
C. Bank statement
D. Balance sheet
|
| 8 | A book which is used to record small expenses is called |
A. Expenses book
B. Cash book
C. Petty cash book
D. Purchases book
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| 9 | The transactions, the effect of which is not exhausted with in the current accounting year are called |
A. Revenue transaction
B. Capital transaction
C. Current transaction
D. Monetary transaction
|
| 10 | Cost incurred to generate revenue is called |
A. Revenue
B. Cost
C. Expense
D. Liability
|
11th Class Principles of Accounting Test
Here you can prepare 11th Class Principles of Accounting English Medium Test. Click the button for 11th Class Principles of Accounting English Medium 100% free full practice test.
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