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	Which of the following normally has a credit balance	Machinery a/c Purchases a/c Stock a/c Sales a/c
2	A Ledger is a book in which	Only Personal & Cash Accounts are Opened Only Real Accounts are Opened Only Nominal Accounts are Opened All Real, Nominal and Personal Accounts are Opened
3	If the total of the credit side of an account exceeds that of debit side of the same account, it is called	Credit Balance Debit Balance Balancing Zero Balance
4	Contain all residual account	Debtors Ledger Creditors Ledger General Ledger Cash Ledger
5	The Principle book of accounts is	Journal Ledger Trial Balance Balance Sheet
6	Debit Signifies	Increase in Asset Account Decrease in Liability Account Decrease in Capital Account All of the Above
7	Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to	Machinery a/c Repair a/c Wages a/c Raheel a/c
8	A table lost by fire should be debited to	Table a/c Furniture a/c Loss by Fire a/c Purchases a/c
9	In case of a debt becoming bad, the amount should be credited to	Debtor's a/c Bad Debts a/c Sales a/c cash a/c
10	The Amount of salary paid to Sohail should be debited to	Sohail's a/c Cash Account Salaries a/c Both a & c
11	Journal means	Weekly Monthly Yearly Daily
12	Written below each entry is the	Transaction Voucher no Narration Date
13	The first successful step of Double Entry System is	Leger Journal Final Account Trial Balance
14	Journal is prepared in	Columnar form Vertical form Horizontal form Row form
15	Record of business transaction in the journal is called	Detail Summary Narration Entry

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