Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

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  • Available questions35
  • Chapter Name6
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Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 6 Online Test

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Question # 1

Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.

Question # 2

Wrong allocation of capital and revenue items of expenses represents

Question # 3

An expenditure incurred in increasing the efficiency of a fixed asset is called:

Question # 4

Suspense means

Question # 5

Error of principle involves an incorrect allocation of expenditure or receipt between.

Question # 6

Raw material destroyed in fire represents

Question # 7

A receipt is revenue in nature, if it relates to:

Question # 8

The profit which is earned during the ordinary course of business is regarded as:

Question # 9

Goods purchased from Robin have been posted to Rahim account, it is an:

Question # 10

Premium on issue of shares of a company represents

Question # 11

Which account will be created in the presence of suspense account, if sales book is undercast by Rs. 500

Question # 12

If sales return for Rs. 3,000 were incorrectly included in sales book, gross profit will be

Question # 13

If the error committed in the capital account, it will affect

Question # 14

The capital profit should be transferred to:

Question # 15

The outflow of funds to meet the running expenses of a business

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