12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.#	Question	Answer
1	Single entry systme can bot be maintained by.	A. Sole owner B. Partnership concern C. Joint stock companies D. All of the above
2	In single entrey system statements of assets and liabilities is called.	A. Balance sheet B. Statement of Affair C. Trial balance D. Income statement
3	Closing capital in single entry system is calculated by preparing,	A. Opening statement of affairs B. Closing statement of affairs C. Opening balance sheet D. Closing balance sheet
4	The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.	A. Single , entery system B. Accrual system C. Double enterysystem D. Cash system
5	In case of dissolution, assets sold for cash are debited to.	A. Realization account B. Cash account C. Assets account D. None of these
6	The opening and closing balance of bills Receivable can be calculated by preparing the.	A. Total debtors accounts B. Total creditors account C. Bills Recivable accounts D. Salaes accounts
7	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
8	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
9	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
10	Opening capital is calculated by taking the difference between,	A. Opening assets and closing assets B. Opening assets and closing liabilities C. Opening assets and Opening liabilities D. Closing assets and closing liabilities

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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

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"

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

Double entry system means

In single entry it is not possible to prepare

In single entrey system statements of assets and liabilities is called.

To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,

A statement of assets and liabilities is prepared under the single entery system is called.

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

The Closing Capital is worked out by preparing the.

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

Closing capital in single entry system is calculated by preparing,

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

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

The opening capitla is ascertained by preparing.

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

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,

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

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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

ICom Part II Principles of Accounting Chapter 0 Important MCQ's

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