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

Opening capital is calculated by taking the difference between,

Question # 2

How many mathods are available to calculate the profit or loss under single entery system.

Question # 3

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

Question # 4

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

Question # 5

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

Question # 6

Not worth method is equal to.

Question # 7

North worth of an organizaton means the excess of its total assets over total.

Question # 8

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

Question # 9

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

Question # 10

Single entry systme can bot be maintained by.

Question # 11

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,

Question # 12

Both aspects of a transaction must be recorded in,

Question # 13

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

Question # 14

In single entry it is not possible to prepare

Question # 15

Single entry system contains,

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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 Not worth method is equal to.
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
2 Cash paid to creditors can be woked out from.
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
3 Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
A. Debtors account
B. Creditors account
C. Sales book
D. Cash book
4 Single entery system is most suitbale where
A. Credit transactions are numerous.
B. Cash transactions are numerous
C. Cahs and credit transactions both are numerios
D. None of the above
5 Due to drawings made during the year, the closing capital will,
A. Increase
B. Decrease
C. Constant
D. Multiply
6 The figure of the credit purchase can be worked out.
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
7 Acceptance received durinthe period must be debited to bills receivable account and credited to.
A. Total bills receivable account
B. Total debtors account
C. total cash account
D. Total bills receivabel account
8 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
9 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
10 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position

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