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

Start Chapter 1 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"

Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test"

  • Total Questions15

  • Time Allowed20

Start Test Download PDF

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

00:00
Question # 1

Due to drawings made during the year, the closing capital will,

Question # 2

Teh single entry system of book keeping is generay followed by

Question # 3

Both aspects of a transaction must be recorded in,

Question # 4

Opening capital is calculated by taking the difference between,

Question # 5

Cash paid to creditors can be woked out from.

Question # 6

Under single entry system sometimes,

Question # 7

Single entry system is generally adopted by,

Question # 8

Bills payable issued durint the period must be debited to total creditors account credited to.

Question # 9

The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.

Question # 10

Net worth is equal to,

Question # 11

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

Question # 12

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

Question # 13

We cannot prepare the trial balance and precise balance sheet under,

Question # 14

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

Question # 15

Double entry system means

Submit

Prepare Complete Set Wise Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQs Online With Answers


Topic Test

00:00
Submit
ic-science-white
Principles of Accounting
1st Chapter

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

  • 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 In case of dissolution, assets sold for cash are debited to.
A. Realization account
B. Cash account
C. Assets account
D. None of these
2 If the cash sales are missing they are to be ascertained by the construction of.
A. Debtors account
B. Creditors account
C. Cash account
D. None of these
3 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
4 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
5 Single entry systme can bot be maintained by.
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
6 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
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 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
9 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
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