Submitted to:

Sir Izhar Bukhari

Submitted by:
Tayyaba Shoukat

Roll No:
F20BINFT1E02069

Subject:
Principals of Accounting

Section:
4th (Eve- B)

1. The art of recording, classifying and summarizing is called:

a) journalizing

b) Accounting

c) Bookkeeping

d) Record keeping

2. Accounting provides information on:

a) cost and income for managers

b) company's tax liability for a particular year

c) fincial conditions of an institutions

 d) All of these

3. PR stands for:

a) Post refrence

b) process refrence

c) product refrence

d) none of these

4. Choose the types of accounting:

a) Tax accounting

b) Cost accounting

c) Financial accounting

d) All of these

5. Which of the following account will be credit if a company purchases

building for cash?

a) Captial account

b) fixed assets account

c) building account

d) Cash account

6. Which of the following account will be credit if bought goods on

credit from mr.Z?

a) purchases account
 b) Mr. Z account

c) cash account

d) sales account

7. is the cost of doing business.

a) income

b) loss

c) expense

d) profit

8. Investment is a:

a) personal account

b) real account

c) Both a &b

d) none of these

9. In journal, the business transaction is recorded:

a) Once in a year

b) Once in a week

c) next day

d) Same day

10. Patents, copyrights and trademarks are:

a) Intangibale assests
b) fixed assets

c) current assets

d) investments