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

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Question # 1

Single entry system contains,

Question # 2

Closing capital in single entry system is calculated by preparing,

Question # 3

According to companies ordinance, single entry system cannot be adopted by,

Question # 4

The opening capitla is ascertained by preparing.

Question # 5

Arithmetical accuracy of the books of accounts cannot be checked under.

Question # 6

The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.

Question # 7

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

Question # 8

North worth of an organizaton means the excess of its total assets over total.

Question # 9

The figure of the bills receivable can be worked out from.

Question # 10

Teh single entry system of book keeping is generay followed by

Question # 11

Both aspects of a transaction must be recorded in,

Question # 12

Under the conversion method of single entry credit salea are ascertained by preparing the.

Question # 13

In single entry it is not possible to prepare

Question # 14

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

Question # 15

Bad debt written off always affect the

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Principles of Accounting
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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 In case of dissolution, assets sold for cash are debited to.
A. Realization account
B. Cash account
C. Assets account
D. None of these
2 Net worth is equal to,
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
3 A statement of assets and liabilities is prepared under the single entery system is called.
A. Balance sheet
B. Financial statement
C. Statement of affair
D. Cash transaction
4 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
5 Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
A. Debtors account
B. Creditors account
C. Sales book
D. Cash book
6 Due to drawings made during the year, the closing capital will,
A. Increase
B. Decrease
C. Constant
D. Multiply
7 In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
A. Debtors account
B. Creditors account
C. Trial balance
D. Statement of affairs
8 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
9 Bad debt written off always affect the
A. Deblor's account
B. Creditors account
C. Cash account
D. All of the above
10 In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
A. Incomplete and unscientific
B. Complete and scientific
C. Incompleted and scientific
D. Complete and unscientific

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