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This online test contains MCQs about following topics:
. Cost of goods sold . Income statement . Balance sheet . Difference between income statement and trading and profit and loss account
ICOM Part 1 Accounting Ch 12 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test
Try the Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test.
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Total Questions15
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Time Allowed20
Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
A statement which i prepared to ascertain the net income or net loss for a specific accounting period is called
Question # 2
Cost incurred to generate revenue is called
Question # 3
Allowance for discount on account receivable is calculated on the amount of account receivable
Question # 4
Which one of the following is a direct expense?
Question # 5
Which one of the following is a direct expense?
Question # 6
The expenses which are incurred for the generation of revenues from the sales of goods are called
Question # 7
Net sales equal to
Question # 8
The gross amount of goods sold or services performed during an accounting period is known as
Question # 9
Allowance for doubtful debts normally has a
Question # 10
The margin that is available to cover the other expenses for a period and to yield net income is known as
Question # 11
The amount by which the revenue for a particular period of time exceed from expenses incurred to generate them is called
Question # 12
Income statement is prepared to ascertain the net result of the business concern under
Question # 13
The inflow of assets in return for services performed or products delivered during a period is
Question # 14
A statement which is prepared to know the financial position of a business on a particular date, is called
Question # 15
From the business point of view, interest on drawings is
11th Principles of Accounting Chapter 12 Test
Here you can prepare 11th Principles of Accounting English Medium Chapter 12 Financial Statements Test. Click the button for 100% free full practice test.
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Test Questions
