12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

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ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"

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Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

00:00
Question # 1

The opening capitla is ascertained by preparing.

Question # 2

In increased net worth method, profit or loss is calculated by preparing,

Question # 3

In cash of net worth method of sigle entery system net profikt is ascertained by.

Question # 4

Single entery system is most suitbale where

Question # 5

Opening capital is calculated by taking the difference between,

Question # 6

In appearance, the statement of affairs, is similar to a.

Question # 7

Under single entery system informatoin relating to expenses must be ascertained from the analysis of.

Question # 8

Single entry system contains,

Question # 9

To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,

Question # 10

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Question # 11

We cannot prepare the trial balance and precise balance sheet under,

Question # 12

Acceptance received durinthe period must be debited to bills receivable account and credited to.

Question # 13

Cash received from the debtors can be find out by preparing.

Question # 14

Net worth is equal to,

Question # 15

The figure of the credit purchase can be worked out.

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Principles of Accounting
1st Chapter

ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 If the cash sales are missing they are to be ascertained by the construction of.
A. Debtors account
B. Creditors account
C. Cash account
D. None of these
2 In single entry system ledger contains the accounts of,
A. Debtors, creditors and cash
B. Wages and carriage
C. Salaries and insurance
D. Assets and liabilities
3 Under single entry system sometimes,
A. Double aspects of a transaction are recorded
B. Single aspect of a transaction is recorded
C. No aspect of a transaction is recorded
D. All of the above
4 Bad debt written off always affect the
A. Deblor's account
B. Creditors account
C. Cash account
D. All of the above
5 Due to fresh capital introduced during the year, the closing capital will,
A. Increase
B. Decrease
C. Constant
D. Multiply
6 In appearance, the statement of affairs, is similar to a.
A. Balance sheet
B. Profit and loss account
C. Trading account
D. Bank Reconciliation statement
7 Cash paid to creditors can be woked out from.
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
8 Cash received from the debtors can be find out by preparing.
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
9 The Closing Capital is worked out by preparing the.
A. Opening statement of affair
B. Closing statement of affiar
C. Cash book
D. Balance sheet
10 The opening and closing balance of bills Receivable can be calculated by preparing the.
A. Total debtors accounts
B. Total creditors account
C. Bills Recivable accounts
D. Salaes accounts

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