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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 mathods are available to calculate the profit or loss under single entery system.
Question # 2
Closing capital in single entry system is calculated by preparing,
Question # 3
If the cash sales are missing they are to be ascertained by the construction of.
Question # 4
In single entery system only.
Question # 5
In single entry it is not possible to prepare
Question # 6
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
Question # 7
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 8
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 9
North worth of an organizaton means the excess of its total assets over total.
Question # 10
The figure of the bills receivable can be worked out from.
Question # 11
How many methods are available to calculate the profit or loss under single entry system,
Question # 12
In single entry system real accounts are not maintained so the preparation of,
Question # 13
Both aspects of a transaction must be recorded in,
Question # 14
Bad debt written off always affect the
Question # 15
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
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 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
|
| 2 | 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
|
| 3 | Net worth is equal to, |
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
|
| 4 | 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
|
| 5 | 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
|
| 6 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 7 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 8 | In single entery system only. |
A. Personal account are maintained
B. Real account are maintained
C. Nominal accounts are maintained
D. None of the above
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| 9 | 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
|
| 10 | In cash of net worth method of sigle entery system net profikt is ascertained by. |
A. Prepareing the trading and profit and account
B. By cimparing the capitals in the beginning and at the end of the accounting period.
C. Capital closing + Drawing - fresh capital - opening capital
D. Capital opening+ Drawing - fresh capital-closing stock
|
Test Questions