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

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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"

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

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Question # 1

Cash paid to creditors can be woked out from.

Question # 2

The closing balance of trade debtors can be located from.

Question # 3

In single entry system ledger contains the accounts of,

Question # 4

Cash received from the debtors can be find out by preparing.

Question # 5

The figure of the credit purchase can be worked out.

Question # 6

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

Question # 7

Cash book is prepared to find out the figure of.

Question # 8

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

Question # 9

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

Question # 10

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

Question # 11

The opening capitla is ascertained by preparing.

Question # 12

In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,

Question # 13

In cash of net worth method of sigle entery system net profikt is ascertained by.

Question # 14

If the cash sales are missing they are to be ascertained by the construction of.

Question # 15

In single entry system,

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ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

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

Sr.# Question Answer
1 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
2 The figure of the bills receivable can be worked out from.
A. Total debtors account
B. Total creditors account
C. Trail balance
D. Balance sheet
3 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
4 Arithmetical accuracy of the books of accounts cannot be checked under.
A. Single Entry system
B. Double entery system
C. None entery system
D. Both a and b
5 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
6 In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
A. Incomplete and unscientific
B. Complete and scientific
C. Incompleted and scientific
D. Complete and unscientific
7 Single entry system contains,
A. A daybook or general journal
B. A cash book
C. Ledger accounts for individual customers and creditors
D. All of the above
8 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
9 How many mathods are available to calculate the profit or loss under single entery system.
A. One
B. Two
C. Three
D. Four
10 The opening capitla is ascertained by preparing.
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account

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