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

Bills payable issued durint the period must be debited to total creditors account credited to.

Question # 2

Teh single entry system of book keeping is generay followed by

Question # 3

Net worth is equal to,

Question # 4

Both aspects of a transaction must be recorded in,

Question # 5

The opening capitla is ascertained by preparing.

Question # 6

Single entry system is suitable where,

Question # 7

Single entery system is most suitbale where

Question # 8

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

Question # 9

Closing capital in single entry system is calculated by preparing,

Question # 10

Single entry system contains,

Question # 11

Bad debt written off always affect the

Question # 12

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

Question # 13

The Closing Capital is worked out by preparing the.

Question # 14

Cash book is prepared to find out the figure of.

Question # 15

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

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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 How many mathods are available to calculate the profit or loss under single entery system.
A. One
B. Two
C. Three
D. Four
2 In increased net worth method, profit or loss is calculated by preparing,
A. Income and expenditure account
B. Profit and loss account
C. Statement of profit or loss
D. Balance sheet
3 In case of dissolution, assets sold for cash are debited to.
A. Realization account
B. Cash account
C. Assets account
D. None of these
4 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
5 In single entry it is not possible to prepare
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
6 North worth of an organizaton means the excess of its total assets over total.
A. Liabilities
B. Income
C. Expenses
D. None of the above
7 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
8 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
9 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
10 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately

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