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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test
00:00
Question # 1
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 # 2
The figure of the bills receivable can be worked out from.
Question # 3
Bad debt written off always affect the
Question # 4
Due to fresh capital introduced during the year, the closing capital will,
Question # 5
According to companies ordinance, single entry system cannot be adopted by,
Question # 6
Closing capital in single entry system is calculated by preparing,
Question # 7
Not worth method is equal to.
Question # 8
In appearance, the statement of affairs, is similar to a.
Question # 9
In increased net worth method, profit or loss is calculated by preparing,
Question # 10
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 11
Both aspects of a transaction must be recorded in,
Question # 12
Cash paid to creditors can be woked out from.
Question # 13
Single entry system is generally adopted by,
Question # 14
The Closing Capital is worked out by preparing the.
Question # 15
Single entery system is most suitbale where
ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test
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T Taiba Siddique 04 - Jun - 2024 00 Min 16 Sec 15/15 -
W Waiz Sharif 17 - Dec - 2024 01 Min 19 Sec 15/15 -
T Tariq Mohmood 03 - Nov - 2024 01 Min 55 Sec 14/15 -
F Fazilat Official 05 - Dec - 2025 02 Min 00 Sec 14/15 -
I ikram ullah 22 - Nov - 2024 07 Min 39 Sec 14/15 -
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R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
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Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
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M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
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A Ali Shah 24 - Nov - 2024 03 Min 48 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | The fingure of bills payable is worked out by preparing the. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
|
| 3 | The figure of the credit purchase can be worked out. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
|
| 4 | We cannot prepare the trial balance and precise balance sheet under, |
A. Single entry system
B. Double entry system
C. "a" and "b"
D. Barter system
|
| 5 | In single entry system real accounts are not maintained so the preparation of, |
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
|
| 6 | How many methods are available to calculate the profit or loss under single entry system, |
A. One
B. Two
C. Three
D. Four
|
| 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 | 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
|
| 9 | 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
|
| 10 | Acceptance received durinthe period must be debited to bills receivable account and credited to. |
A. Total bills receivable account
B. Total debtors account
C. total cash account
D. Total bills receivabel account
|
Test Questions