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

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

Sr.#	Question	Answer
1	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
2	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
3	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
4	Bad debt written off always affect the	A. Deblor's account B. Creditors account C. Cash account D. All of the above
5	The figure of the credit purchase can be worked out.	A. Total debtors account B. Total creditors account C. Cash book D. Balance sheet
6	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
7	Not worth method is equal to.	A. Liabilities - assets B. Assets- liabilities C. Capital + assets D. None of these
8	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
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	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

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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

Single entry systme can bot be maintained by.

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

Net worth is equal to,

Single entery system is most suitbale where

Teh single entry system of book keeping is generay followed by

Arithmetical accuracy of the books of accounts cannot be checked under.

The Closing Capital is worked out by preparing the.

In single entry it is not possible to prepare

The figure of the credit purchase can be worked out.

Single entry system is generally adopted by,

Not worth method is equal to.

Cash book is prepared to find out the figure of.

In single entry system ledger contains the accounts of,

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

Closing capital in single entry system is calculated by preparing,

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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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