11th class Principles of Accounting chapter 5 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 5(Ledger)

Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test

Sr. #	Questions	Answers Choice
1	Assets come into existence upon the happening of a certain event, are called:	Fixed assets Fictitious assets Floating assets Contingent assets
2	A bill from the point of view of a creditor is called a:	Bill payable Bill receivable Bil acceptable Bill rejectable
3	The person to whom a bill is addressed is the:	Debtor Creditor Holder Agent
4	The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points:	Rs. 200 will be deducted Rs. 200 will be added Rs. 400 will be added Rs. 400 will be deducted
5	In adjusting the cash balance one of the following is not taken into account:	Mistakes in the cash book Mistake in the bank statement Interest and dividends credited in the bank statement None of the abvove
6	Cash account is a:	Personal account Real account Nominal account Both real and personal account
7	The balance of the 'Caha Column' in cash book is always:	Debit balance Credit balance Both debit and credit balance None of the above
8	Loss of good by fire should be credited to:	Purchase account Sales account Loss by goods by fire account Capital account
9	Any mistake in ledger can be easily detected with the help of:	Journal  Balance sheet Trial balance Financial statement
10	The money with which business is started is known as:	Capital Creditor Income Debtor
11	Rent account' is a kind of:	Real account Personal account Nominal account <div>Capital account</div>
12	The creditor of the business are called:	Assets Liabilities Capital  Income
13	The const concept applied only to the assets and not to:	Expenses Liabilities Incomes None of these
14	Financial accounting is mainly confined to preparation of:	Manufacturing statement Financial statements Production statement Sale statement
15	The concession given by the supplier to the buyer on purchases of good is known as:	Sales discount Trade discount Purchase discount Discount received

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