I-COM | Part-1 | Principal of Accounting | Impotant MCQs | Chapter 01 | Part-4

I-COM | Part-1

Contents

1. Principal of Accounting
   1. Chapter 1 : Introduction
   2. Multiple Choice Questions
2. PART-4
   1. Chapter 1 : Introduction
   2. Question 31:
   3. Question 32:
   4. Question 33:
   5. Question 34:
   6. Question 35:
   7. Question 36:
   8. Question 37:
   9. Question 38:
   10. Question 39:
   11. Question 40:
3. Quiz Results

Principal of Accounting

Chapter 1 : Introduction

Intermediate in Commerce | First Year

Multiple Choice Questions

PART-4

Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6

• Home
• I-COM
• Part-1
• Principal of Accounting
• Chapter 1 | MCQs

Chapter 1 : Introduction

Question 31:

Cash discount is provided on:

Sales Purchase Prompt payment List price

Question 32:

Discount received is a:

Asset Liability Revenue Expenses

Question 33:

Discount allowed on list price is called:

Commission Interest Cash discount Trade discount

Question 34:

Trade discount is recorded in

Journal Ledger Trial balance None of these

Question 35:

Sales discount is a contra to .....

Purchase Credit purchase Credit sales Purchase return

Question 36:

Debts or obligations of a business are known as:

Expenses Revenue Assets Liabilities

Question 37:

The excess of assets over liabilities is called:

Profit Capital Income Loss

Question 38:

A business can be started by:

Cash Machinery Building From all things

Question 39:

A business can be started by:

Cash Machinery Building From all things

Question 40:

Cash/goods withdrawn by the owner from business is called:

Drawings Expense Investment All of these

Quiz Results

Total Questions:

Correct Answers:

Incorrect Answers:

Percentage:

1 2 3 4 5 6 7