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	How many categories of accounts are	two three four five
2	Ahmad's account is an example of	real account personal A/c nominal account none of these
3	Carriage account is a/an	asset account revenue account expenditure A/c withdrawal account
4	The accounts of assets and properties	nominal accounts real accounts personal accounts valuation accounts
5	The accounts of expenses, incomes, losses and gains	real accounts valuation accounts nominal accounts personal accounts
6	Cash paid to Naeem will affect	cash & capital cash & creditor cash and debtors cash & goods
7	The effect of drawing on accounting equation is	decrease in assets and decrease in liabilities increase in both assets & liabilities decrease in assets and increase in capital none of these
8	When cash is paid to creditors it will decrease	cash capital debtor cash & creditors
9	Purchased goods on credit and for cash will affect	cash & goods cash & creditors cash creditors & owner's equity cash goods and creditors
10	Expenses paid by a business decrease	cash capital cash & capital none of these
11	According to accounting equation, capital is equal to	assets + liabilities expenses-incomes liabilities - assets assets - liabilities
12	Accounting records of a business enterprise are required by	management of the business outsiders all of the above none of the above
13	For every debit, there is a credit	going concern concept dual aspect concept matching concept cost concept
14	Accounting principles can be classified in	three types two types five types six types
15	Double entry means	entry in two sets of books entry at two dates entry for two aspects of a transaction recording twice in journal

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