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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
Question # 2
Transaction, having short-term effects are known as
Question # 3
Contra Refers to
Question # 4
Gross profit represents
Question # 5
The gross amount of goods sold or services performed during an accounting period is known as
Question # 6
Bookkeeping provides the
Question # 7
The book in which all cash transaction are primarily recorded is called
Question # 8
The outflow of funds to meet the running expenses of a business
Question # 9
Net profit is equal to
Question # 10
A bill of exchange is a / an
Question # 11
Worksheet provides complete information for preparing
Question # 12
Real accounts are related to:
Question # 13
A cash account always shows
Question # 14
Cash of sales is equal to
Question # 15
The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the
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 | Preliminary expenses paid in the formation of a company is a |
A. Capital expenditure
B. Deferred expenditure
C. Revenue expenditure
D. Capital loss
|
| 2 | A copy of the customer's account in the bank's ledger is called: |
A. Deposit statement
B. Balance statement
C. Bank statement
D. Customer
|
| 3 | A document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called |
A. Receipt voucher
B. Cash voucher
C. payment voucher
D. Cash memo
|
| 4 | Excise duty is a |
A. Direct revenue
B. Indirect revenue
C. Direct expense
D. Indirect expense
|
| 5 | Allowance for discount on account receivable is calculated on the amount of account receivable |
A. Before deducting the allowance for doubtful debts
B. Left after deducting the allowance for doubtful debts
C. Before deducting the actual bad debts
D. None of these
|
| 6 | The capital profit should be transferred to: |
A. Profit and loss account
B. Trading account
C. Balance Sheet
D. Both Trading and profit and loss account and balance sheet
|
| 7 | Depreciation of fixed assets used in the business is an example of |
A. capital expenditure
B. Revenue expenditure
C. Deferred expenditure
D. None of these
|
| 8 | The act of withdrawing a bill of exchange from circulation when it had been paid before the due date |
A. Renewal of a Bill
B. Discounting of a Bill
C. Endorsement of a Bill
D. Retiring of a Bill
|
| 9 | Goods withdrawn by the proprietor for personal use should be credited to |
A. Purchase a/c
B. Drawings a/c
C. Expenses a/c
D. Revenue a/c
|
| 10 | Which one of the following is a direct expense? |
A. Packing expense
B. Advertisement expense
C. Manufacturing expense
D. Traveling expense
|
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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