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	The book which is used to record all goods returned to us by our customers is called	Returns outwards book Returns inwards book Sales book Cash book
2	The book which is used to record all goods returned by us to our supplier is called	Returns inwards book Purchases book Return outwards book Sales book
3	All the transactions related to credit sales are recorded in	Sales returns book Sales book Cash book Credit note book
4	Which book is used to record all credit purchases?	Purchases book Purchases book return Cash book Debit note book
5	Which book is used to record all cash receipts and cash payments?	Sale book Purchase book Cash book Petty cash book
6	Subsidiary books are called books of	Original entry Secondary entry Final entry Basic entry
7	Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.	Increase the net profit Decrease the net profit Have double effect on net profit Have no effect on net profit
8	The revenue profit should be transferred to:	Balance sheet Trading account Profit and loss account None of these
9	The capital profit should be transferred to:	Profit and loss account Trading account Balance Sheet Both Trading and profit and loss account and balance sheet
10	Unearned income are known as:	Incomes Expenses Liabilities Assets
11	A credit sale was wrongly passed through purchases book, the rectification of the entry will:	Increase the net profit by, double amount Decrease the net profit Decrease the net profit by double amount Have no effect on the net profit
12	Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to:	Assets account Expenses account Cash account Purchases account
13	The profit which is earned during the ordinary course of business is regarded as:	Capital profit Revenue profit Revenue loss Long term profit
14	Capital contributed by the partners is a:	Revenue receipt Capital receipt Current receipt Deferred receipt
15	Error of posting effects:	One account  Two accounts Three accounts Four accounts

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