11th class Principles of Accounting chapter 1 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 1(Introduction)

Principles of accounting Icom Part 1 English Medium Chapter 1 Online Test

Sr. #	Questions	Answers Choice
1	The errors in which amount have occurred on the opposite sides of two or more accounts and have concealed themselves in the net result, are:	Error of principle Errors of omission  Errors of commission Compensating error
2	Error due to wrong allocation as expenditure between capital and revenue is regarded as:	Error of omission Error of principle  Compensating errors Error of Commission
3	An expenditure incurred to the increases the profit earning of the concern is a:	Revenue expenditure Current expenditure Capital receipt Capital expenditure
4	An expenditure which is incurred again and again is a:	Capital expenditure Future expenditure Deferred expenditure Revenue expenditure
5	Which of the following discloses the financial position of the business:	Trading account Profit and loss account Profit and loss appropriation account Balance sheet
6	The act result of the business activities is shown by:	Profit and loss account Profit  and loss appropriation account Trading account Balance sheet
7	A bill of exchange contains:	An unconditional order A promise A request A conditional order
8	Disagreement in balances may arise owing to mistake or mistakes in the:	Cash book only Bank statement Cash book or bank statement Bank column of the cash book only
9	A copy of the customer's account in the bank's ledger is called:	Deposit statement Balance statement Bank statement Customer
10	All cash purchases and cash sales are recorded in:	Sales book Purchases book Both a & b Cash book
11	Journal shows all necessary information regarding.	The document A transaction The accounting Meeting
12	Accounts relating to persons of firms are called:	Real accounts Proprietary accounts Personal accounts Nominal accounts
13	Events which are related with money are called:	Monetary events Non - monetary events None-social events Political events
14	The recording of transaction chronologically in the book of accounts is called:	Summarizing Classifying Recording None of above
15	The system of recording transaction based on dual concept is called	Double account system Double entry system Single entry system Management system

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