11th class Principles of Accounting chapter 4 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 4(Journal The Original Book of Entry)

Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test

Sr. #	Questions	Answers Choice
1	The excess of gross profit on sale over total operating expenses is called:	Cost of goods sold Gross profit Net profit None-operating income
2	All the direct expenses are charged to:	Balance sheet Profit and loss account Trading account None of these
3	Retiring a bill under rebate means:	Making payment for the bill before the due date Making payment for the bill after the due date Dishonouring bill None of the above
4	All the time of endorsement of a bill the drawer credits:	The drawee account The endorser's personal account Bill receivable account Endorser's account
5	When boan statement shown a debit total balance it means:	Overdraft  as per cash book Unfavourable balance as per cash book Favourable balance as per cash book Overdraft as per bank statement
6	When ban column of a cash book shows a debit balance it means:	Overdraft as per bank Unfavourable balance as per cash book Favourable balance as per cash book Favourable balance as per pass book
7	Discount deducted from the catalogue or list price is called:	Trade discount Cash discount Catalogue discount Credit discount
8	The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:	Receipt voucher Payment voucher Cash voucher Cash memo
9	In journalizing the page numbers of the ledgers are written in:	The first column of journal The second column of journal The third column of journal The fourth column of journal
10	In form journal, the first column represents:	Ledger Folio Data Amount Debit
11	Cash account is concerned with:	Real account Personal account Nominal account Capital account
12	The rules of the debiting the receiving and crediting the giver is applicable to:	Persona account Real account Nominal account Expense account
13	In accounting all business transactions are recorded which have:	Dual aspect Single aspect * None of the above* Economic aspect
14	When saleable goods are bought in a business are called:	Sales  Purchase Assets Goods
15	The owner of the business is known as:	Sale man Agent Proprietor Employee

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