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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
Purchased goods on credit and for cash will affect
Question # 2
A bill of exchange is a method of payment on
Question # 3
The debts, which are irrecoverable from the debtors, are called
Question # 4
Goods sold to Ali for Rs. 50,000 recorded in purchases day book will affect
Question # 5
Preliminary expenses incurred before the commencement of business
Question # 6
The rules of the debiting the receiving and crediting the giver is applicable to:
Question # 7
A revenue expenditure, the benefit of which is not confined to one accounting year is called
Question # 8
The cash book is a book of
Question # 9
The book in which all cash transaction are primarily recorded is called
Question # 10
A schedule of balances of all accounts is called
Question # 11
Bill receivable book represents
Question # 12
Income received in advance during the year is
Question # 13
If there is any error in Bank account it will affect
Question # 14
Errors of omission affects
Question # 15
The expenses which are incurred for the generation of revenues from the sales of goods are 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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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Net sales are equal to sales minus |
A. Returns inwards
B. Returns outwards
C. Cost of goods sold
D. carriage on sales
|
| 2 | If the error committed in the capital account, it will affect |
A. trading account
B. profit & loss account
C. trading and profit & loss account
D. balance sheet
|
| 3 | From the business point of view, interest on drawings is |
A. An asset
B. An expense
C. A liability
D. A revenue
|
| 4 | Which book is used to record all credit purchases? |
A. Purchases book
B. Purchases book return
C. Cash book
D. Debit note book
|
| 5 | Work sheet is also used as a source to prepare ______ |
A. Financial statement
B. Income statement
C. Position statement
D. Bank reconciliation statement
|
| 6 | Bank Reconciliation represents |
A. A Journal
B. A Ledger
C. A Statement
D. both a and c
|
| 7 | Gross profit represents |
A. Opening stock + purchases
B. closing stock + direct expenses - sales
C. closing stock-purchases-direct expenses + sales
D. purchases - sales
|
| 8 | A sheet which minimizes the chances of errors to the maximum possible extent is called |
A. Balance sheet
B. Work sheet
C. Paper sheet
D. Income statement
|
| 9 | All the direct expenses are charged to: |
A. Balance sheet
B. Profit and loss account
C. Trading account
D. None of these
|
| 10 | Cash account is concerned with: |
A. Real account
B. Personal account
C. Nominal account
D. Capital account
|
| 11 | 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
|
| 12 | Transaction are recorded data wise, so journal is also called: |
A. Entry book
B. Transaction book
C. Chronological book
D. Voucher
|
| 13 | When bank column of a cash book shows a credit balance, it means: |
A. Cash balance
B. Bank balance
C. Under draft
D. Over draft
|
| 14 | If amount for Rs. 554 recovered from Ali, previously written off as bad debts we should |
A. Debited to bad debts recovered account
B. Credited to Ali account
C. Debited to bad debts account
D. Credited to bad debts recovered account
|
| 15 | Interest on drawings is |
A. An asset
B. A liability
C. An expense
D. A revenue
|
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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