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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
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 2
Teh single entry system of book keeping is generay followed by
Question # 3
Cash paid to creditors can be woked out from.
Question # 4
In single entry system ledger contains the accounts of,
Question # 5
The opening capitla is ascertained by preparing.
Question # 6
In case of dissolution, assets sold for cash are debited to.
Question # 7
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 8
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
Question # 9
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 10
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 11
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 12
The figure of the credit purchase can be worked out.
Question # 13
In single entery system only.
Question # 14
Opening capital is calculated by taking the difference between,
Question # 15
Single entry system contains,
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 -
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R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
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Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
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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 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 2 | Cash book is prepared to find out the figure of. |
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
|
| 3 | How many methods are available to calculate the profit or loss under single entry system, |
A. One
B. Two
C. Three
D. Four
|
| 4 | The closing balance of trade debtors can be located from. |
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
|
| 5 | Both aspects of a transaction must be recorded in, |
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
|
| 6 | 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
|
| 7 | 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
|
| 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 | In case of dissolution, assets sold for cash are debited to. |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 10 | According to companies ordinance, single entry system cannot be adopted by, |
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
|
Test Questions