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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test
00:00
Question # 1
Teh single entry system of book keeping is generay followed by
Question # 2
Closing capital in single entry system is calculated by preparing,
Question # 3
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 4
If the cash sales are missing they are to be ascertained by the construction of.
Question # 5
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 6
To calculate the true net profit or net loss in single entry system it is necessary that the amount of fresh capital should be subtracted from,
Question # 7
The fingure of bills payable is worked out by preparing the.
Question # 8
How many methods are available to calculate the profit or loss under single entry system,
Question # 9
In increased net worth method, profit or loss is calculated by preparing,
Question # 10
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 11
The Closing Capital is worked out by preparing the.
Question # 12
We cannot prepare the trial balance and precise balance sheet under,
Question # 13
In case of dissolution, assets sold for cash are debited to.
Question # 14
Not worth method is equal to.
Question # 15
In single entery system only.
ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test
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T Taiba Siddique 04 - Jun - 2024 00 Min 16 Sec 15/15 -
W Waiz Sharif 17 - Dec - 2024 01 Min 19 Sec 15/15 -
T Tariq Mohmood 03 - Nov - 2024 01 Min 55 Sec 14/15 -
F Fazilat Official 05 - Dec - 2025 02 Min 00 Sec 14/15 -
I ikram ullah 22 - Nov - 2024 07 Min 39 Sec 14/15 -
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R RV King 09 - May - 2024 04 Min 31 Sec 13/15 -
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Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
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A Ali Shah 24 - Nov - 2024 03 Min 48 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Cash book is prepared to find out the figure of. |
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
|
| 2 | Bills payable issued durint the period must be debited to total creditors account credited to. |
A. Bills payable account
B. Bills receivable account
C. Debtora account
D. Cash account
|
| 3 | The fingure of bills payable is worked out by preparing the. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
|
| 4 | The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called. |
A. Single , entery system
B. Accrual system
C. Double enterysystem
D. Cash system
|
| 5 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 6 | Single entry system contains, |
A. A daybook or general journal
B. A cash book
C. Ledger accounts for individual customers and creditors
D. All of the above
|
| 7 | To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare, |
A. Balance sheet
B. Trading account
C. Trial balance
D. Statement of affairs
|
| 8 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 9 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 10 | Single entry system is suitable where, |
A. Small amount of cash transactions are more
B. Large amount of cash transaction are more
C. Smallamount of cash transaction are more
D. Largeamount of cash transaction are more
|
Test Questions