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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
The transactions, the effect of which is not exhausted with in the current accounting year are called
Question # 2
When cash is withdrawn from the bank for the personal use of the owner, must be debited to
Question # 3
Subsidiary books are called books of
Question # 4
Interest on renewal of a bill is the expense of
Question # 5
A gradual decrease in the value of fixed assets is called
Question # 6
Carriage account is a/an
Question # 7
Transportation cost paid for the purchases of Machinery must be debited to
Question # 8
Allowance for doubtful debts normally has a
Question # 9
All the time of endorsement of a bill the drawer credits:
Question # 10
Double entry means
Question # 11
The favorable balance of bank statement is
Question # 12
Income tax paid is a
Question # 13
Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to:
Question # 14
The Principle book of accounts is
Question # 15
Accommodation bills are drawn accepted and endorsed
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 | Written below each entry is the |
A. Transaction
B. Voucher no
C. Narration
D. Date
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| 2 | Interest on drawing is debited to |
A. Capital
B. Drawings
C. Sundry Creditors
D. Outstanding expense
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| 3 | In adjusting the cash balance one of the following is not taken into account: |
A. Mistakes in the cash book
B. Mistake in the bank statement
C. Interest and dividends credited in the bank statement
D. None of the abvove
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| 4 | Which cash is paid or received in an exchange the transaction is called: |
A. Sale transaction
B. Cash transaction
C. Credit transaction
D. None of the above
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| 5 | The margin that is available to cover the other expenses for a period and to yield net income is known as |
A. Net profit
B. Gross profit
C. Net sales
D. Cost of goods sold
|
| 6 | Which of the following discloses the financial position of the business: |
A. Trading account
B. Profit and loss account
C. Profit and loss appropriation account
D. Balance sheet
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| 7 | Bill receivable account is a: |
A. Nominal account
B. Personal account
C. Real account
D. Expenses account
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| 8 | Profit & Loss a/c is prepared to ascertain |
A. Gross Profit
B. Net Profit
C. Gross Loss
D. Real Profit
|
| 9 | .If the error committed in the capital account, it will affect |
A. Trading account
B. Profit and loss account
C. Trading and profit and loss account
D. Balance sheet
|
| 10 | Loss of good by fire should be credited to: |
A. Purchase account
B. Sales account
C. Loss by goods by fire 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.
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