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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
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 2
Opening capital is calculated by taking the difference between,
Question # 3
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 4
Under single entry system sometimes,
Question # 5
Due to fresh capital introduced during the year, the closing capital will,
Question # 6
Teh single entry system of book keeping is generay followed by
Question # 7
The figure of the bills receivable can be worked out from.
Question # 8
Cash received from the debtors can be find out by preparing.
Question # 9
Double entry system means
Question # 10
Net worth is equal to,
Question # 11
In appearance, the statement of affairs, is similar to a.
Question # 12
Due to drawings made during the year, the closing capital will,
Question # 13
Cash book is prepared to find out the figure of.
Question # 14
In case of dissolution, assets sold for cash are debited to.
Question # 15
In single entery system only.
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 -
A adina waqas 05 - Dec - 2024 02 Min 37 Sec 13/15 -
R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
R RV King 09 - May - 2024 04 Min 31 Sec 13/15 -
R Rabail Fizza 21 - Sep - 2025 22 Min 03 Sec 13/15 -
Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
F Fatima Waseem 09 - Dec - 2024 03 Min 54 Sec 12/15 -
M Mehwish Mughal 29 - Oct - 2024 06 Min 17 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
F Fatima Akram 11 - Oct - 2024 03 Min 00 Sec 11/15 -
A Ali Shah 24 - Nov - 2024 03 Min 48 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | In single entry system, |
A. Personal accounts are maintained
B. Real accounts are maintained
C. Nominal accounts are maintained
D. None of the above
|
| 3 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 4 | In single entry system ledger contains the accounts of, |
A. Debtors, creditors and cash
B. Wages and carriage
C. Salaries and insurance
D. Assets and liabilities
|
| 5 | Bad debt written off always affect the |
A. Deblor's account
B. Creditors account
C. Cash account
D. All of the above
|
| 6 | In single entry it is not possible to prepare |
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
|
| 7 | 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
|
| 8 | Net worth is equal to, |
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
|
| 9 | 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
|
| 10 | 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
|
Test Questions