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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
MCQ's Test For Chapter 12 "Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test"
Try The MCQ's Test For Chapter 12 "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
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Question # 1
Which one of the following is a direct expense?
Question # 2
Net sales equal to
Question # 3
Cost of goods sold is equal to
Question # 4
Cost incurred to generate revenue is called
Question # 5
All expenses connected with the office and its conduct are called
Question # 6
Net purchases are equal to
Question # 7
The margin that is available to cover the other expenses for a period and to yield net income is known as
Question # 8
Allowance for discount on account receivable is calculated on the amount of account receivable
Question # 9
Allowance for doubtful debts normally has a
Question # 10
Sales are equal to
Question # 11
The inflow of assets in return for services performed or products delivered during a period is
Question # 12
Net sales - cost of goods sold - operating expenses = ?
Question # 13
From the business point of view, interest on drawings is
Question # 14
The gross amount of goods sold or services performed during an accounting period is known as
Question # 15
The expenses which are incurred for the generation of revenues from the sales of goods are called
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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D Duaa 15 - Dec - 2021 02 Min 33 Sec 14/15 -
M majid arif 04 - Jul - 2021 08 Min 45 Sec 14/15 -
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M Muhammad furqan 18 - Aug - 2018 04 Min 52 Sec 12/15 -
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Test Questions