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This online test contains MCQs about following topics:
. What is ledger . Features . Forms of ledger accounts . Posting procedure . Balancing an account . Normal balances . Posting procedure illustrated . self-balancing form of ledger account . Trail balance . Methods of preparing trail balance . Accounting cycle to the trial balance
ICOM Part 1 Accounting Ch 5 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test"
Try The MCQ's Test For Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test"
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test
00:00
Question # 1
Any mistake in ledger can be easily detected with the help of:
Question # 2
Wages paid for installing a machine should be debited to
Question # 3
Cash account is a:
Question # 4
The bad debts which are showed in the trial balance are called
Question # 5
Income tax paid is a
Question # 6
Assets come into existence upon the happening of a certain event, are called:
Question # 7
Net Profit is transferred to
Question # 8
The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points:
Question # 9
Goods withdrawn by the proprietor for personal use should be credited to
Question # 10
The debts, the recovery of which is uncertain are called
Question # 11
Net profit is always
Question # 12
Loss of good by fire should be credited to:
Question # 13
A bill from the point of view of a creditor is called a:
Question # 14
Profit & Loss a/c is prepared to ascertain
Question # 15
Financial accounting is mainly confined to preparation of:
11th Principles of Accounting Chapter 5 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 5 Ledger Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 5 "Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test" MCQ`s Test
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Z Zahid javed Butt 08 - Jun - 2024 01 Min 38 Sec 14/15 -
W Waj Khan 15 - Dec - 2023 01 Min 55 Sec 14/15 -
A Abdullah Zafar 20 - Sep - 2023 01 Min 56 Sec 14/15 -
F Fatima Asif 22 - May - 2024 09 Min 31 Sec 14/15 -
T Taiba Siddique 30 - May - 2024 00 Min 08 Sec 13/15 -
A Alishba Pervaiz 24 - Jun - 2023 01 Min 49 Sec 12/15 -
S Sania Butt 28 - May - 2024 02 Min 01 Sec 12/15 -
I ishrat fatima 07 - Jun - 2024 01 Min 17 Sec 11/15 -
A Abeer 07 - Feb - 2024 02 Min 08 Sec 11/15 -
A Ayan Ahmed 01 - May - 2024 01 Min 54 Sec 10/15 -
M Mudassar Ali 12 - Jun - 2023 03 Min 55 Sec 10/15 -
L Laraib Zaman 16 - Jun - 2023 03 Min 56 Sec 10/15 -
S Sohera Aslam 18 - Aug - 2023 02 Min 12 Sec 9/15 -
S Subtain Ahmed Raza 22 - Jul - 2023 03 Min 17 Sec 9/15 -
W Waqas Khan 02 - Oct - 2023 04 Min 20 Sec 9/15
ICom Part 1 Principles of Accounting Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The bad debts which are showed in the trial balance are called |
A. new bad debts
B. old bad debts
C. further bad debts
D. additional bad debts
|
| 2 | Assets come into existence upon the happening of a certain event, are called: |
A. Fixed assets
B. Fictitious assets
C. Floating assets
D. Contingent assets
|
| 3 | The creditor of the business are called: |
A. Assets
B. Liabilities
C. Capital
D. Income
|
| 4 | The concession given by the supplier to the buyer on purchases of good is known as: |
A. Sales discount
B. Trade discount
C. Purchase discount
D. Discount received
|
| 5 | Net profit is always |
A. Equal to gross profit
B. more than gross profit
C. Less than gross profit
D. None of these
|
| 6 | Income received in advance during the year is |
A. Prepaid Expenses
B. Accrued Income
C. Advance Expenses
D. Advance Income
|
| 7 | The money with which business is started is known as: |
A. Capital
B. Creditor
C. Income
D. Debtor
|
| 8 | Net Profit is transferred to |
A. Trading Account
B. Balance Sheet
C. Capital a/c
D. Trial Balance
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| 9 | Cash account is a: |
A. Personal account
B. Real account
C. Nominal account
D. Both real and personal account
|
| 10 | Loss of good by fire should be credited to: |
A. Purchase account
B. Sales account
C. Loss by goods by fire account
D. Capital account
|
Test Questions