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	Errors which affect one account can be	errors of principle errors of posting errors of omission none of these
2	Premium on issue of shares of a company represents	capital loss capital profit capital payment none of these
3	Raw material destroyed in fire represents	capital loss revenue loss normal loss both b, c
4	A receipt is revenue receipt because	the amount is small it relates to routine activity of business it is received in the accounting year both b, c
5	Capitalized expenditures are shown in	trading A/c profit & loss A/c income statement balance sheet
6	Receipts, which are non-recurring by nature, are called	revenue receipts current receipts capital receipts capital profit
7	Bad debts are	deferred expenditure revenue expenditure capital expenditure none of these
8	Which one of the following is appeared in the balance sheet ?	revenue expenditure capital expenditure deferred revenue both b,c
9	Any expenditure incurred to increase the earning capacity of a business	capital expenditure capital loss revenue loss revenue expenditure
10	Preliminary expenses incurred before the commencement of business	revenue expenditure capital expenditure deferred revenue expenditure capital loss
11	The outflow of funds to meet the running expenses of a business	Revenue loss Revenue expenditure capital expenditure capital loss
12	The debts, the recovery of which is uncertain are called	Unbelievable debts unrealized debts doubtful debts both b and c
13	Bad debts recovered should be credited to	Balance Sheet Trading a/c Profit & Loss a/c None of these
14	The bad debts which are showed in the trial balance are called	new bad debts old bad debts further bad debts additional bad debts
15	Wages paid for installing a machine should be debited to	Wages a/c Cash a/c Machinery a/c none of these

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