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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
00:00
Question # 1
Income received in advance during the year is
Question # 2
Error of principle arises when
Question # 3
Errors which affect one account can be
Question # 4
Disagreement in balances may arise owing to mistake or mistakes in the:
Question # 5
An expenditure incurred in increasing the efficiency of a fixed asset is called:
Question # 6
Financial statement is prepared from the amount given in
Question # 7
The revenue profit should be transferred to:
Question # 8
Suspense means
Question # 9
The margin that is available to cover the other expenses for a period and to yield net income is known as
Question # 10
When an acceptor refuses to pay the amount of bill to the holder on its maturity date it is called
Question # 11
The book use to record all credit purchases is called:
Question # 12
If any income omitted to be recorded it will
Question # 13
Depreciation of fixed assets used in the business is an example of
Question # 14
Wages paid for the erection of machine debited to wages account is an example of
Question # 15
When the goods are returned to the suppliers, an intimation is sent to them 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 Principles of Accounting Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Subsidiary books are called the book of: |
A. Original entry
B. Secondary entry
C. Temporary entry
D. Basic entry
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| 2 | It is used to record only cash receipts and payments |
A. Single column cash book
B. Double column cash book
C. Treble column cash book
D. Sales book
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| 3 | Which one of the following is a direct expense? |
A. Custom duty
B. Carriage
C. Wages
D. All of above
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| 4 | When saleable goods are bought in a business are called: |
A. Sales
B. Purchase
C. Assets
D. Goods
|
| 5 | Any expenditure incurred to increase the earning capacity of a business |
A. capital expenditure
B. capital loss
C. revenue loss
D. revenue expenditure
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| 6 | It is used to record cash, bank and discount transactions on debit and credit side |
A. Single column cash book
B. Petty cash book
C. Double column cash book
D. Treble column cash book
|
| 7 | The process of totaling the data at the end of the period is called |
A. posting
B. casting
C. compensating
D. recording
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| 8 | A ______ is a large columnar sheet of paper |
A. Worksheet
B. Balance sheet
C. Journal
D. None of these
|
| 9 | The book use to record all credit purchases is called: |
A. Purchases book
B. Purchase return book
C. Cash book
D. Creditor book
|
| 10 | Rent account' is a kind of: |
A. Real account
B. Personal account
C. Nominal account
D.
Capital 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
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