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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
Subsidiary books are called the book of:
Question # 2
The transactions, the effect of which is not exhausted with in the current accounting year are called
Question # 3
Nominal account are related to:
Question # 4
When money is paid to a creditor or supplier a receipt is obtained from him which is called
Question # 5
The most exhaustive cash book is
Question # 6
An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called
Question # 7
The outflow of funds to meet the running expenses of a business
Question # 8
Rent account' is a kind of:
Question # 9
Net sales equal to
Question # 10
Goodwill, patent, copyright are classified as
Question # 11
Gross profit is derived from
Question # 12
The credit purchases were wrongly recorded in sales book, the rectification of entry
Question # 13
Interest on drawing is debited to
Question # 14
When saleable goods are bought in a business are called:
Question # 15
Interest on drawings is
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 | Real accounts are related to: |
A. Assets
B. Expenses, losses and incomes
C. Customers, creditors
D. Incomes
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| 2 | The Legal tenor of a bill is |
A. Sixty Days
B. One Month
C. Eighty Days
D. Ninety Days
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| 3 | An error completely omitted to be entered in the journal |
A. partial error
B. error of posting
C. error of casting
D. complete error
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| 4 | Net sales - cost of goods sold - operating expenses = ? |
A. Net purchases
B. Cost of goods sold available for sale
C. Net operating income
D. Gross Profit
|
| 5 | An expenditure which is incurred again and again is a: |
A. Capital expenditure
B. Future expenditure
C. Deferred expenditure
D. Revenue expenditure
|
| 6 | Expenditure, which helps to maintain the business efficiency is called |
A. Revenue expenditure
B. Deferred expenditure
C. Capital expenditure
D. Future expenditure
|
| 7 | Office rent is a |
A. Financial Expense
B. Abnormal Loss
C. Management Expense
D. Maintenance Expense
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| 8 | 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
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| 9 | When the goods are returned to the suppliers, an intimation is sent to them is called |
A. Currency note
B. Invoice
C. Debit note
D. Credit note
|
| 10 | Which one of the following in used to simplify work, to be done at the end of period |
A. Balance sheet
B. Income sheet
C. Bank statement
D. Work sheet
|
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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