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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
Cheques issued to a creditor but not presented for payment are called
Question # 2
A bank reconciliation statement is prepared by:
Question # 3
Goods sold to Ali for Rs. 50,000 recorded in purchases day book will affect
Question # 4
All the acceptances received from the debtors are recorded in
Question # 5
In accounting all business transactions are recorded which have:
Question # 6
Record of business transaction in the journal is called
Question # 7
The valuation of closing stock is at
Question # 8
Expenditure is a capital expenditure because
Question # 9
Which one of the following in used to simplify work, to be done at the end of period
Question # 10
The outflow of funds to meet the running expenses of a business
Question # 11
Worksheet contains ______ pairs of money columns
Question # 12
Sales returns book periodical total is posted to
Question # 13
When balance of suspense account has debit balance it will be shown in balance sheet on
Question # 14
The effect of drawing on accounting equation is
Question # 15
The book in which all cash transaction are primarily recorded 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 | The recording of transaction chronologically in the book of accounts is called: |
A. Summarizing
B. Classifying
C. Recording
D. None of above
|
| 2 | Journal shows all necessary information regarding. |
A. The document
B. A transaction
C. The accounting
D. Meeting
|
| 3 | Goodwill, patent, copyright and trade mark are |
A. Wasting assets
B. Intangible assets
C. Fictitious assets
D. Liquid assets
|
| 4 | Contra Refers to |
A. Same Side
B. Parallel Side
C. Opposite Side
D. None of these
|
| 5 | In journalizing the page numbers of the ledgers are written in: |
A. The first column of journal
B. The second column of journal
C. The third column of journal
D. The fourth column of journal
|
| 6 | The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points: |
A. Rs. 200 will be deducted
B. Rs. 200 will be added
C. Rs. 400 will be added
D. Rs. 400 will be deducted
|
| 7 | The outflow of funds to meet the running expenses of a business |
A. Revenue loss
B. Revenue expenditure
C. capital expenditure
D. capital loss
|
| 8 | If any expense omitted to be recorded it will |
A. Overstate the profit
B. Understate the profit
C. Both a & b
D. No effect on profit
|
| 9 | Error which affects profit and loss account relates to |
A. Nominal account
B. Property account
C. Personal account
D. None of these
|
| 10 | Usually every ______ entry affect both income statement and balance sheet |
A. Adjusting
B. Work sheet
C. Balance sheet
D. Ledger
|
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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