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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
In single entry system real accounts are not maintained so the preparation of,
Question # 2
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 3
In case of dissolution, assets sold for cash are debited to.
Question # 4
Bills payable issued durint the period must be debited to total creditors account credited to.
Question # 5
The fingure of bills payable is worked out by preparing the.
Question # 6
In single entrey system statements of assets and liabilities is called.
Question # 7
Teh single entry system of book keeping is generay followed by
Question # 8
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 9
In single entery system only.
Question # 10
If the cash sales are missing they are to be ascertained by the construction of.
Question # 11
Due to drawings made during the year, the closing capital will,
Question # 12
Cash received from the debtors can be find out by preparing.
Question # 13
Single entery system is most suitbale where
Question # 14
Net worth is equal to,
Question # 15
The opening capitla is ascertained by preparing.
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
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 2 | 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
|
| 3 | Not worth method is equal to. |
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
|
| 4 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 5 | 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
|
| 6 | Under the conversion method of single entry credit salea are ascertained by preparing the. |
A. Total debtors account
B. Total creditors account
C. Total cash account
D. Total bills receivable account
|
| 7 | 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
|
| 8 | In case of dissolution, assets sold for cash are debited to. |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 9 | 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
|
| 10 | 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
|
Test Questions
