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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
Teh single entry system of book keeping is generay followed by
Question # 2
Under single entry system sometimes,
Question # 3
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 4
The opening capitla is ascertained by preparing.
Question # 5
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 6
Both aspects of a transaction must be recorded in,
Question # 7
In case of dissolution, assets sold for cash are debited to.
Question # 8
Due to fresh capital introduced during the year, the closing capital will,
Question # 9
Single entry system is generally adopted by,
Question # 10
In single entry it is not possible to prepare
Question # 11
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 12
The fingure of bills payable is worked out by preparing the.
Question # 13
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 14
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 15
How many mathods are available to calculate the profit or loss under single entery system.
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 Tariq Mohmood 03 - Nov - 2024 01 Min 55 Sec 14/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Closing capital in single entry system is calculated by preparing, |
A. Opening statement of affairs
B. Closing statement of affairs
C. Opening balance sheet
D. Closing balance sheet
|
| 2 | 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
|
| 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 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
|
| 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 | 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
|
| 7 | In appearance, the statement of affairs, is similar to a. |
A. Balance sheet
B. Profit and loss account
C. Trading account
D. Bank Reconciliation statement
|
| 8 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 9 | Opening capital is calculated by taking the difference between, |
A. Opening assets and closing assets
B. Opening assets and closing liabilities
C. Opening assets and Opening liabilities
D. Closing assets and closing liabilities
|
| 10 | 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
|
Test Questions