First Year Principles of Accounting Chapter 2 Online MCQ Test for 1st Year Principles of Accounting Chapter 2 (Transactions and Accounting Equation)

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11th Principles of Accounting Chapter 2 Test

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Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test

Try the Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 2 Online Test

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Question # 1

The balance of the trading account is the transferred to:

Question # 2

Written below each entry is the

Question # 3

Record of business transaction in the journal is called

Question # 4

In case of a debt becoming bad, the amount should be credited to

Question # 5

The expenditures which reduce revenue (profit) of the business are:

Question # 6

The process of recording business transaction in the journal is called

Question # 7

Ledger Records Transaction in a/an

Question # 8

A schedule of balances of all accounts is called

Question # 9

کسی شے کے مسلسل اور لگاتار استعمال سے مختتم افادہ میں کمی آتی جاتی ہے بشرطیکہ دیگر امور بدستور ہیں اس قانون کو کہتے ہیں

Question # 10

Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to

Question # 11

A table lost by fire should be debited to

Question # 12

The statement which contains the explanation of different in  cash book and bank statement is known as:

Question # 13

Journal is prepared in

Question # 14

Transaction are recorded data wise, so journal is also called:

Question # 15

Book-keeping is mainly concerned with:

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