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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 body of worksheet contains
Question # 2
Error of carry forward will affect
Question # 3
The accounting system in which accounting entries are made on the basis of amount having become due for payment or receipt, is called
Question # 4
It is used to record cash, bank and discount transactions on debit and credit side
Question # 5
Bank reconciliation statement is prepared by
Question # 6
Gross profit is derived from
Question # 7
Provision for the doubtful debts is debited to
Question # 8
All the direct expenses are charged to:
Question # 9
Cash account is a
Question # 10
In accounting all business transactions are recorded which have:
Question # 11
An entry which is recorded on the both sides of cash book is called
Question # 12
Expenditure is revenue expenditure because
Question # 13
Any difference in trail balance, is transferred to
Question # 14
When the goods are returned to the suppliers, an intimation is sent to them is called
Question # 15
Work sheet is also used as a source to prepare ______
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 | Transaction are recorded data wise, so journal is also called: |
A. Entry book
B. Transaction book
C. Chronological book
D. Voucher
|
| 2 | When balance of suspense account has debit balance it will be shown in balance sheet on |
A. Liability side
B. Capital side
C. Asset side
D. Credit side
|
| 3 | Sales returns book periodical total is posted to |
A. Debit of returns inwards account
B. Credit of returns inwards account
C. Debit of returns outwards account
D. Credit of returns outwards account
|
| 4 | Received a cheque from Bilal Rs. 1900 in ful settlement of his debt Rs. 2000 should be debited to |
A. Cash account
B. Discount allowed account
C. Bank account
D. Both a & b
|
| 5 | 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
|
| 6 | How many columns are drawn on one side of three column cash book ? |
A. Five Columns
B. Six Columns
C. Seven Columns
D. Eight Columns
|
| 7 | Profit & Loss a/c is prepared to ascertain |
A. Gross Profit
B. Net Profit
C. Gross Loss
D. Real Profit
|
| 8 | Receipts which are non-recurring by nature: |
A. Capital receipts
B. Revenue receipts
C. Short term receipts
D. Capital profit
|
| 9 | Net profit is always |
A. Equal to gross profit
B. more than gross profit
C. Less than gross profit
D. None of these
|
| 10 | The accrued income or outstanding income will appear in the balance sheet as |
A. An expense
B. A liability
C. An asset
D. Both a & 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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