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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
It is used to record only cash receipts and payments
Question # 2
The debts, the recovery or realization of which is uncertain are known as
Question # 3
Unearned income are known as:
Question # 4
The effect of drawing on accounting equation is
Question # 5
The amount becomes due from the customers is called
Question # 6
Retiring a bill under rebate means
Question # 7
Errors of affect one account can be
Question # 8
Errors of omission affects
Question # 9
Ledger Records Transaction in a/an
Question # 10
A transaction has been journalized but posted wrongly in the ledger account, it is an:
Question # 11
Provision for the doubtful debts is debited to
Question # 12
A sale of Rs. 1000 to Farid, was credited to his account, it will affect
Question # 13
Which cash is paid or received in an exchange the transaction is called:
Question # 14
Expired cost of fixed assets means
Question # 15
An entry which is recorded on the both sides of cash book is called
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 Class Principles of Accounting Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Bank account is a: |
A. Personal account
B. Real account
C. Nominal account
D. None of these
|
| 2 | The recording of transaction chronologically in the book of accounts is called: |
A. Summarizing
B. Classifying
C. Recording
D. None of above
|
| 3 | Net profit is always |
A. Equal to gross profit
B. More than gross profit
C. Less than gross profit
D. None of these
|
| 4 | Double entry means |
A. entry in two sets of books
B. entry at two dates
C. entry for two aspects of a transaction
D. recording twice in journal
|
| 5 | A statement which i prepared to ascertain the net income or net loss for a specific accounting period is called |
A. Position statement
B. Statement of condition
C. Financial statement
D. Bank reconciliation statement
|
| 6 | The owner of the business is known as: |
A. Sale man
B. Agent
C. Proprietor
D. Employee
|
| 7 | All the acceptances received from the debtors are recorded in |
A. Cash book
B. Bills payable book
C. Debtor's book
D. Bills receivable book
|
| 8 | A receipt is revenue in nature, if it relates to: |
A. Balance sheet
B. The receipt of accounting year
C. Small amount
D. Routine activity of the business
|
| 9 | Net Sales represent |
A. Sales - return outwards
B. Sales - return inwards
C. Sales - return to supplier
D. both b and c
|
| 10 | Our cheque to Ali & Bros, returned dishonored should be credited to |
A. Cheque account
B. Cash account
C. Bank account
D. Ali & Bros account
|
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.
Test Questions
