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

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

Question # 2

Under single entry system sometimes,

Question # 3

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

Question # 4

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

Question # 5

Closing capital in single entry system is calculated by preparing,

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

Question # 8

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

Question # 9

Bad debt written off always affect the

Question # 10

The figure of the credit purchase can be worked out.

Question # 11

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

Question # 12

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

Question # 13

How many methods are available to calculate the profit or loss under single entry system,

Question # 14

Single entery system is most suitbale where

Question # 15

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

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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 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
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 Closing Capital is worked out by preparing the.
A. Opening statement of affair
B. Closing statement of affiar
C. Cash book
D. Balance sheet
4 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
5 In cash of net worth method of sigle entery system net profikt is ascertained by.
A. Prepareing the trading and profit and account
B. By cimparing the capitals in the beginning and at the end of the accounting period.
C. Capital closing + Drawing - fresh capital - opening capital
D. Capital opening+ Drawing - fresh capital-closing stock
6 Single entery system is most suitbale where
A. Credit transactions are numerous.
B. Cash transactions are numerous
C. Cahs and credit transactions both are numerios
D. None of the above
7 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
8 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,
A. Adjusted closing capital
B. Closing capital
C. Cash in hand
D. Cash at bank
9 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
10 Double entry system means
A. The recording of same things twice
B. Double accounting
C. The two sides of every transaction are recorded
D. Entry at two dates

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