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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
Bank reconciliation statement is prepared by
Question # 2
Bank reconciliation statement is prepared by
Question # 3
The inflow of assets in return for services performed or products delivered during a period is
Question # 4
All cash purchases and cash sales are recorded in:
Question # 5
Accounting principles can be classified in
Question # 6
The act result of the business activities is shown by:
Question # 7
The recording of transaction chronologically in the book of accounts is called:
Question # 8
Goods returned by customers are
Question # 9
The outflow of funds to meet the running expenses of a business
Question # 10
An expenditure, which increases the utility or productive capacity of an asset is treated as
Question # 11
Heavy expenditure on advertisement for making a new product is a
Question # 12
Both cash purchases as well as credit purchases are recorded in
Question # 13
Octori duty paid on machinery, is an example of
Question # 14
Goods sold to Ali for Rs. 50,000 recorded in purchases day book will affect
Question # 15
If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an
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 | Expired cost of fixed assets means |
A. Appreciation
B. Amortization
C. Depreciation
D. None of these
|
| 2 | A basis of business languages |
A. accounting
B. bookkeeping
C. transaction
D. cost accounting
|
| 3 | Interest on renewal of a bill is the expense of |
A. Drawer
B. Drawee
C. Holder
D. Endorsee
|
| 4 | The Legal tenor of a bill is |
A. Sixty Days
B. One Month
C. Eighty Days
D. Ninety Days
|
| 5 | Journal means |
A. Weekly
B. Monthly
C. Yearly
D. Daily
|
| 6 | If any income omitted to be recorded it will |
A. Overstate the profit
B. Understate the profit
C. Both a & b
D. having no effect on profit
|
| 7 | Sales returns book periodical total is posted to |
A. Debit of returns inwards account
B. Credit of returns inwards account
C. Debit of returns outwards account
D. Credit of returns outwards account
|
| 8 | 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
|
| 9 | Book-keeping is mainly concerned with: |
A. Recording of business transactions
B. Recording classifying and summarizing the recorded data
C. Interpreting the recorded data
D. None of the above
|
| 10 | Bookkeeping provides the |
A. primary information
B. secondary information
C. final information
D. insufficient information
|
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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