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11th Principles of Accounting Chapter 11 Test

Here you can prepare 11th Principles of Accounting English Medium Chapter 11 Work Sheet Test. Click the button for 100% free full practice test.

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

This online test contains MCQs about following topics:

. What is work sheet . Method of preparing work sheet

ICOM Part 1 Accounting Ch 11 Test
ic

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

Sr. # Questions Answers Choice
1 In the preparation of worksheet the amounts in the trail balance are taken directly form the ______
  • A. Ledger
  • B. Trail balance
  • C. Balance sheet
  • D. None of these
2 Which one of the following is not considered the permanent part of the accounting record?
  • A. Journal
  • B. Trail balance
  • C. Ledger
  • D. Work sheet
3 In the preparation of the worksheet the amounts on the trail balance columns are taken directly from
  • A. Journal
  • B. Ledger
  • C. Trail balance
  • D. Transaction
4 The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the
  • A. Balance sheet columns
  • B. Income statement columns
  • C. Cash columns
  • D. Bank columns
5 Worksheet provides complete information for preparing
  • A. Income statement
  • B. Position statement
  • C. Financial statement
  • D. Bank reconciliation statement
6 ______ is prepared to avoid errors in the permanent records of accounting
  • A. Work sheet
  • B. Ledger
  • C. Bank statement
  • D. Balance sheet
7 Financial statement is prepared from the amount given in
  • A. Trail balance columns
  • B. Adjustments columns
  • C. Cash columns
  • D. Adjusted trail balance columns
8 Usually every ______ entry affect both income statement and balance sheet
  • A. Adjusting
  • B. Work sheet
  • C. Balance sheet
  • D. Ledger
9 Expired cost of fixed assets means
  • A. Appreciation
  • B. Amortization
  • C. Depreciation
  • D. None of these
10 The excess of credit column over debit column in income statement is called
  • A. Net loss
  • B. Net profit
  • C. Cash balance
  • D. Gross profit

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