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

ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

Start Chapter 1 Test

ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

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"

  • Total Questions15

  • Time Allowed20

Start Test Download PDF

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

00:00
Question # 1

Cash book is prepared to find out the figure of.

Question # 2

Under single entry system sometimes,

Question # 3

The figure of the credit purchase can be worked out.

Question # 4

The opening and closing balance of bills Receivable can be calculated by preparing the.

Question # 5

Bills payable issued durint the period must be debited to total creditors account credited to.

Question # 6

In single entry system ledger contains the accounts of,

Question # 7

Single entry system contains,

Question # 8

Due to drawings made during the year, the closing capital will,

Question # 9

Net worth is equal to,

Question # 10

Cash paid to creditors can be woked out from.

Question # 11

In case of dissolution, assets sold for cash are debited to.

Question # 12

According to companies ordinance, single entry system cannot be adopted by,

Question # 13

Closing capital in single entry system is calculated by preparing,

Question # 14

How many methods are available to calculate the profit or loss under single entry system,

Question # 15

Teh single entry system of book keeping is generay followed by

Submit

Prepare Complete Set Wise Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQs Online With Answers


Topic Test

00:00
Submit
ic-science-white
Principles of Accounting
1st Chapter

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

  • 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
  • T
    Tayyba Noor 04 - Oct - 2026 04 Min 01 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
  • S
    Saad Javed 15 - Oct - 2026 07 Min 18 Sec 12/15
  • M
    Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15
  • M
    Maryam Nazar 23 - Apr - 2026 02 Min 55 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 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
2 If the cash sales are missing they are to be ascertained by the construction of.
A. Debtors account
B. Creditors account
C. Cash account
D. None of these
3 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
4 Not worth method is equal to.
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
5 Teh single entry system of book keeping is generay followed by
A. Small business concern
B. Large Business concern
C. Non trading concern
D. None of these
6 Arithmetical accuracy of the books of accounts cannot be checked under.
A. Single Entry system
B. Double entery system
C. None entery system
D. Both a and b
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 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
9 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
10 In single entry it is not possible to prepare
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet

Test Questions