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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
The cash book is a book of
Question # 2
An expenditure, which increases the utility or productive capacity of an asset is treated as
Question # 3
Our cheque to Babar & Bros, returned dishonoured should be credited to
Question # 4
Which book is used to record all cash receipts and cash payments?
Question # 5
The valuation of closing stock is at
Question # 6
In double entry system of bookkeeping every business transaction affects:
Question # 7
Trading account is the account which is prepared to determine the:
Question # 8
How many columns are drawn on one side of three column cash book ?
Question # 9
A trial balance can be constructed by
Question # 10
The accounts of expenses, incomes, losses and gains
Question # 11
Office rent is a
Question # 12
All the acceptances received from the debtors are recorded in
Question # 13
In accounting all business transactions are recorded which have:
Question # 14
All cash purchases and cash sales are recorded in:
Question # 15
Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.
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 | 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
|
| 2 | Error of principle arises when |
A. Any transaction is incorrectly recorded, either wholly or partially
B. Any transaction is left wholly or partially
C. Any transaction is affects one account
D. Any transaction is recorded in fundamentally incorrect manner
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| 3 | The person to whom a bill is addressed is the: |
A. Debtor
B. Creditor
C. Holder
D. Agent
|
| 4 | Gross profit represents |
A. Opening stock + purchases
B. closing stock + direct expenses - sales
C. closing stock-purchases-direct expenses + sales
D. purchases - sales
|
| 5 | All those expenses which have become due but not paid are called |
A. Accrued revenue
B. Prapaid revenue
C. Outstanding expenses
D. Advance expenses
|
| 6 | Which one of the following is appeared in the balance sheet ? |
A. revenue expenditure
B. capital expenditure
C. deferred revenue
D. both b,c
|
| 7 | The favorable balance of cash book bank column is |
A. Credit balance
B. Debit balance
C. Both debit and credit balance
D. None of these
|
| 8 | The credit purchases were wrongly recorded in sales book, the rectification of entry |
A. Increase the net profit by double amount
B. Decrease the net profit by double amount
C. Decrease the net profit
D. Increase the net profit
|
| 9 | A document given by the seller to the buyer for credit sale of goods or assets is called |
A. Cash memo
B. Invoice
C. Voucher
D. None of these
|
| 10 | In three column cash book, discount column is |
A. Totaled
B. Balanced
C. Carry Forward
D. Both a and b
|
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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