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
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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 A ______ is a large columnar sheet of paper
  • A. Worksheet
  • B. Balance sheet
  • C. Journal
  • D. None of these
2 Financial statement is prepared from the amount given in
  • A. Trail balance columns
  • B. Adjustments columns
  • C. Cash columns
  • D. Adjusted trail balance columns
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 excess of credit column over debit column in income statement is called
  • A. Net loss
  • B. Net profit
  • C. Cash balance
  • D. Gross profit
5 ______ must be prepaid for testing ledger accounts, adjusting entries and financial statement
  • A. Work sheet
  • B. Balance sheet
  • C. Bank statement
  • D. Trail balance
6 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
7 The ______ is not a part of the permanent accounting record
  • A. worksheet
  • B. Journal
  • C. Ledger
  • D. Trail balance
8 ______ is prepared to avoid errors in the permanent records of accounting
  • A. Work sheet
  • B. Ledger
  • C. Bank statement
  • D. Balance sheet
9 Adjusted ______ is used to prepare the income statement and balance sheet
  • A. Trail balance
  • B. Ledger
  • C. Balance sheet
  • D. Bank statement
10 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

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