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	Error of principle involves an incorrect allocation of expenditure or receipt between.	Capital and revenue Capital and capitalized Revenue and deferred revenue Revenue and revenue
2	A receipt is revenue in nature, if it relates to:	Balance sheet The receipt of accounting year Small amount Routine activity of the business
3	Receipts which are non-recurring by nature:	Capital receipts Revenue receipts Short term receipts Capital profit
4	Goods purchased from Robin have been posted to Rahim account, it is an:	Error of omission Error of casting Error of posting Error of commission
5	A transaction has been journalized but posted wrongly in the ledger account, it is an:	Error of positing Error of principle Error of omission Error of commission
6	An expenditure incurred in increasing the efficiency of a fixed asset is called:	Revenue expenditure Capital expenditure Current expenditure None of these
7	Assets come into existence upon the happening of a certain event, are called:	Fixed assets Fictitious assets Floating assets Contingent assets
8	A bill from the point of view of a creditor is called a:	Bill payable Bill receivable Bil acceptable Bill rejectable
9	The person to whom a bill is addressed is the:	Debtor Creditor Holder Agent
10	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
11	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
12	Cash account is a:	Personal account Real account Nominal account Both real and personal account
13	The balance of the 'Caha Column' in cash book is always:	Debit balance Credit balance Both debit and credit balance None of the above
14	Loss of good by fire should be credited to:	Purchase account Sales account Loss by goods by fire account Capital account
15	Any mistake in ledger can be easily detected with the help of:	Journal  Balance sheet Trial balance Financial statement

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