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	The opening capitla is ascertained by preparing.	A. Cash account B. Opening statements of affairs C. Total debtors account D. Total creditors account
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	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
4	The Closing Capital is worked out by preparing the.	A. Opening statement of affair B. Closing statement of affiar C. Cash book D. Balance sheet
5	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
6	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
7	The opening and closing balance of bills Receivable can be calculated by preparing the.	A. Total debtors accounts B. Total creditors account C. Bills Recivable accounts D. Salaes accounts
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	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	Cash paid to creditors can be woked out from.	A. Debtora account B. Creditors account C. Balance sheet D. None of theses

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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

Under single entery system informatoin relating to expenses must be ascertained from the analysis of.

The figure of the bills receivable can be worked out from.

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

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

In single entry system real accounts are not maintained so the preparation of,

In case of dissolution, assets sold for cash are debited to.

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

In appearance, the statement of affairs, is similar to a.

Acceptance received durinthe period must be debited to bills receivable account and credited to.

Cash book is prepared to find out the figure of.

How many methods are available to calculate the profit or loss under single entry system,

Double entry system means

Closing capital in single entry system is calculated by preparing,

The figure of the credit purchase can be worked out.

In single entry system,

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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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