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	The debts, the recovery of which is uncertain are called	Unbelievable debts unrealized debts doubtful debts both b and c
2	Bad debts recovered should be credited to	Balance Sheet Trading a/c Profit & Loss a/c None of these
3	The bad debts which are showed in the trial balance are called	new bad debts old bad debts further bad debts additional bad debts
4	Wages paid for installing a machine should be debited to	Wages a/c Cash a/c Machinery a/c none of these
5	Goods withdrawn by the proprietor for personal use should be credited to	Purchase a/c Drawings a/c Expenses a/c Revenue a/c
6	Interest on drawing is debited to	Capital Drawings Sundry Creditors Outstanding expense
7	Income tax paid is a	Business Expense Business Revenue Business Liability Personal Expense
8	Net profit is always	Equal to gross profit more than gross profit Less than gross profit None of these
9	From business point of view, interest on capital is considered as	An income An Expense A Profit A Liability
10	The account of depreciation of building of Rs. 30,000 at 5% p.a. will be	Rs. 20,00 Rs. 15,00 Rs. 25,00 Rs. 5,00
11	Income received in advance during the year is	Prepaid Expenses Accrued Income Advance Expenses Advance Income
12	Assets having some market value	Fictitious Assets Real Assets Unreal Assets None of these
13	Goodwill, patent, copyright are classified as	Current Assets Fixed Assets Tangible Assets Wasting Assets
14	Gross profit represents	Opening stock + purchases closing stock + direct expenses - sales closing stock-purchases-direct expenses + sales purchases - sales
15	Net Sales represent	Sales - return outwards Sales - return inwards Sales - return to supplier both b and c

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