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 is generally adopted by,

Question # 2

Single entry system is suitable where,

Question # 3

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

Question # 4

How many mathods are available to calculate the profit or loss under single entery system.

Question # 5

Single entery system is most suitbale where

Question # 6

Cash book is prepared to find out the figure of.

Question # 7

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

Question # 8

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

Question # 9

Double entry system means

Question # 10

Under single entry system sometimes,

Question # 11

The opening and closing balance of bills Receivable can be calculated by preparing the.

Question # 12

In single entry system,

Question # 13

Single entry systme can bot be maintained by.

Question # 14

Due to fresh capital introduced during the year, the closing capital will,

Question # 15

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

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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 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
2 How many methods are available to calculate the profit or loss under single entry system,
A. One
B. Two
C. Three
D. Four
3 Arithmetical accuracy of the books of accounts cannot be checked under.
A. Single Entry system
B. Double entery system
C. None entery system
D. Both a and b
4 In single entrey system statements of assets and liabilities is called.
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
5 Not worth method is equal to.
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
6 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
7 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
8 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
9 Single entry system is generally adopted by,
A. Small business concerns
B. Large business concerns
C. Medium business concerns
D. All of the above
10 In single entery system only.
A. Personal account are maintained
B. Real account are maintained
C. Nominal accounts are maintained
D. None of the above

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