12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	In single entry system real accounts are not maintained so the preparation of,	A. Correctly B. Effectively C. Wrongly D. Approximately
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 it is not possible to prepare	A. Trial balance B. Trading account C. Profit and loss account D. Balance sheet
4	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
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	Cash paid to creditors can be woked out from.	A. Debtora account B. Creditors account C. Balance sheet D. None of theses
7	The closing balance of trade debtors can be located from.	A. Total debtors account B. Balance sheet C. Bils receivable account D. Cash book
8	Net worth is equal to,	A. Assets - Liabilities B. Liabilities - Assets C. Liabilities + Capital D. Capital + Assets
9	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
10	The Closing Capital is worked out by preparing the.	A. Opening statement of affair B. Closing statement of affiar C. Cash book D. Balance sheet