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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
Single entry systme can bot be maintained by.
Question # 2
Bills payable issued durint the period must be debited to total creditors account credited to.
Question # 3
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 4
How many methods are available to calculate the profit or loss under single entry system,
Question # 5
Due to fresh capital introduced during the year, the closing capital will,
Question # 6
The closing balance of trade debtors can be located from.
Question # 7
In single entry system,
Question # 8
The figure of the credit purchase can be worked out.
Question # 9
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 10
Closing capital in single entry system is calculated by preparing,
Question # 11
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 # 12
Bad debt written off always affect the
Question # 13
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 14
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 15
Acceptance received durinthe period must be debited to bills receivable account and credited to.
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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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 -
T Tayyba Noor 04 - Oct - 2026 04 Min 01 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 -
S Saad Javed 15 - Oct - 2026 07 Min 18 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
M Maryam Nazar 23 - Apr - 2026 02 Min 55 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 | 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
|
| 2 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 3 | Due to fresh capital introduced during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 4 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 5 | 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
|
| 6 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
|
| 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 | 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 | 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
|
| 10 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
Test Questions