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 process of recording business transaction in the journal is called	Posting Journalizing Classifying Entry
2	How many categories of accounts are	two three four five
3	Ahmad's account is an example of	real account personal A/c nominal account none of these
4	Carriage account is a/an	asset account revenue account expenditure A/c withdrawal account
5	The accounts of assets and properties	nominal accounts real accounts personal accounts valuation accounts
6	The accounts of expenses, incomes, losses and gains	real accounts valuation accounts nominal accounts personal accounts
7	Cash paid to Naeem will affect	cash & capital cash & creditor cash and debtors cash & goods
8	The effect of drawing on accounting equation is	decrease in assets and decrease in liabilities increase in both assets & liabilities decrease in assets and increase in capital none of these
9	When cash is paid to creditors it will decrease	cash capital debtor cash & creditors
10	Purchased goods on credit and for cash will affect	cash & goods cash & creditors cash creditors & owner's equity cash goods and creditors
11	Expenses paid by a business decrease	cash capital cash & capital none of these
12	According to accounting equation, capital is equal to	assets + liabilities expenses-incomes liabilities - assets assets - liabilities
13	Accounting records of a business enterprise are required by	management of the business outsiders all of the above none of the above
14	For every debit, there is a credit	going concern concept dual aspect concept matching concept cost concept
15	Accounting principles can be classified in	three types two types five types six types

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