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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
Cash book is prepared to find out the figure of.
Question # 2
Cash paid to creditors can be woked out from.
Question # 3
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 4
In single entry it is not possible to prepare
Question # 5
Net worth is equal to,
Question # 6
The figure of the credit purchase can be worked out.
Question # 7
The Closing Capital is worked out by preparing the.
Question # 8
Not worth method is equal to.
Question # 9
In single entry system,
Question # 10
According to companies ordinance, single entry system cannot be adopted by,
Question # 11
Single entry system is suitable where,
Question # 12
Opening capital is calculated by taking the difference between,
Question # 13
In case of dissolution, assets sold for cash are debited to.
Question # 14
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 15
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
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 -
A adina waqas 05 - Dec - 2024 02 Min 37 Sec 13/15 -
R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
R RV King 09 - May - 2024 04 Min 31 Sec 13/15 -
R Rabail Fizza 21 - Sep - 2025 22 Min 03 Sec 13/15 -
Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
F Fatima Waseem 09 - Dec - 2024 03 Min 54 Sec 12/15 -
M Mehwish Mughal 29 - Oct - 2024 06 Min 17 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
F Fatima Akram 11 - Oct - 2024 03 Min 00 Sec 11/15 -
A Ali Shah 24 - Nov - 2024 03 Min 48 Sec 11/15
| 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 | 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
|
| 3 | Teh single entry system of book keeping is generay followed by |
A. Small business concern
B. Large Business concern
C. Non trading concern
D. None of these
|
| 4 | 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
|
| 5 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 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, |
A. Adjusted closing capital
B. Closing capital
C. Cash in hand
D. Cash at bank
|
| 7 | 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
|
| 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 | 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
|
| 10 | To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare, |
A. Balance sheet
B. Trading account
C. Trial balance
D. Statement of affairs
|
Test Questions
