11th Class ICom Part 1 Principles of Accounting Chapter Wise Online MCQ Test With Answers PDF

Principles of accounting Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	______ is prepared to avoid errors in the permanent records of accounting	Work sheet Ledger Bank statement Balance sheet
2	Usually every ______ entry affect both income statement and balance sheet	Adjusting Work sheet Balance sheet Ledger
3	______ simplifies work to be done at the end of the period	Work sheet Ledger Trail balance Balance sheet
4	Provision for the doubtful debts is debited to	Debtors a/c Provision for bad debts a/c Profit or loss a/c Bad debts recovered a/c
5	The debts, the recovery or realization of which is uncertain are known as	Bad bets Doubtful debts Provision for doubtful debts Loan
6	Bad debts recovered from debtors should be credited to	Debtors a/c Bad debts a/c Bad debts recovered a/c Cash a/c
7	Bad debts are business	Expenses Liabilities Assets Revenue
8	The debts, which are irrecoverable from the debtors, are called	Debts Doubtful debts Bad debts Good debts
9	The amount becomes due from the customers is called	Allowance Loan Debts Doubtful debts
10	Patent is an example of	Assets Liabilities Income Expense
11	Income tax paid is a	Business expense Revenue for business Liability of business Personal expense
12	Net loss is always	Equal to gross loss More than gross loss Less than gross loss None of these
13	Wages paid of installing a machine should be debited to	Wages a/c cash a/c Machinery a/c None of these
14	Net profit is always	Equal to gross profit More than gross profit Less than gross profit None of these
15	Interest on drawings is	An asset A liability An expense A revenue

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