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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
According to companies ordinance, single entry system cannot be adopted by,
Question # 2
Bad debt written off always affect the
Question # 3
In single entry system,
Question # 4
How many methods are available to calculate the profit or loss under single entry system,
Question # 5
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 6
Due to fresh capital introduced during the year, the closing capital will,
Question # 7
The Closing Capital is worked out by preparing the.
Question # 8
We cannot prepare the trial balance and precise balance sheet under,
Question # 9
In increased net worth method, profit or loss is calculated by preparing,
Question # 10
Teh single entry system of book keeping is generay followed by
Question # 11
The closing balance of trade debtors can be located from.
Question # 12
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 13
The figure of the credit purchase can be worked out.
Question # 14
In appearance, the statement of affairs, is similar to a.
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 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 | Net worth is equal to, |
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
|
| 2 | 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
|
| 3 | 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
|
| 4 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 5 | Double entry system means |
A. The recording of same things twice
B. Double accounting
C. The two sides of every transaction are recorded
D. Entry at two dates
|
| 6 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 7 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 8 | Bad debt written off always affect the |
A. Deblor's account
B. Creditors account
C. Cash account
D. All of the above
|
| 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 | 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
|
Test Questions