Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test

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  • Available questions35
  • Chapter Name3
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Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test

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Question # 1

Retiring a bill under rebate means

Question # 2

When a Bill is dishonoured, the holder of the bill goes to an official called

Question # 3

A many buy  Rs. 40,000 worth good and sells them for Rs. 50,000. His gross profit is:

Question # 4

Interest on renewal of a bill is the expense of 

Question # 5

A bill from the point of view of a debtor is called

Question # 6

A bill of exchange is a / an

Question # 7

The concept of conservation will have the effect of:

Question # 8

The transaction for which non separate book is maintained are recorded in:

Question # 9

When a drawer discounts a bill, he debits

Question # 10

Real accounts are related to:

Question # 11

A Journal is generally kept on:

Question # 12

All those expenses which are incurred to convert raw-materials into finished goods are called:

Question # 13

At the time of drawing a bill the drawer credits:

Question # 14

When is a drawee is declared insolvent which account is to be debited in the books of drawer

Question # 15

Subsidiary books are called the book of:

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