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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
How many methods are available to calculate the profit or loss under single entry system,
Question # 2
Single entry systme can bot be maintained by.
Question # 3
Due to drawings made during the year, the closing capital will,
Question # 4
Single entery system is most suitbale where
Question # 5
Cash received from the debtors can be find out by preparing.
Question # 6
In single entrey system statements of assets and liabilities is called.
Question # 7
In increased net worth method, profit or loss is calculated by preparing,
Question # 8
How many mathods are available to calculate the profit or loss under single entery system.
Question # 9
In single entery system only.
Question # 10
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 11
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 12
Cash paid to creditors can be woked out from.
Question # 13
North worth of an organizaton means the excess of its total assets over total.
Question # 14
Opening capital is calculated by taking the difference between,
Question # 15
Teh single entry system of book keeping is generay followed by
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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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Due to fresh capital introduced during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 3 | 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
|
| 4 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
|
| 5 | The closing balance of trade debtors can be located from. |
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
|
| 6 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 7 | 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
|
| 8 | 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
|
| 9 | Both aspects of a transaction must be recorded in, |
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
|
| 10 | Not worth method is equal to. |
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
|
Test Questions