ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

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

ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

Start Chapter 11 Test

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 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
3 Worksheet contains ______ pairs of money columns
  • A. Five
  • B. Four
  • C. Three
  • D. Two
4 Adjusted ______ is used to prepare the income statement and balance sheet
  • A. Trail balance
  • B. Ledger
  • C. Balance sheet
  • D. Bank statement
5 Financial statement is prepared from the amount given in
  • A. Trail balance columns
  • B. Adjustments columns
  • C. Cash columns
  • D. Adjusted trail balance columns
6 Usually every ______ entry affect both income statement and balance sheet
  • A. Adjusting
  • B. Work sheet
  • C. Balance sheet
  • D. Ledger
7 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
8 Adjusting entries affect
  • A. Balance sheet
  • B. Income statement
  • C. Work sheet
  • D. All of them
9 Worksheet provides complete information for preparing
  • A. Income statement
  • B. Position statement
  • C. Financial statement
  • D. Bank reconciliation statement
10 A sheet which minimizes the chances of errors to the maximum possible extent is called
  • A. Balance sheet
  • B. Work sheet
  • C. Paper sheet
  • D. Income statement

Top Scorers of Principles of accounting Icom Part 1 English Medium Chapter 11 Online Test

K

Kanzul_Ul_Emaan

Lahore31 - May - 2025

12/15
05 Mins 09 Sec
T

Tahreem Waris

Lahore23 - Jun - 2025

11/15
02 Mins 31 Sec

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer