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

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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"

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

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Question # 1

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

Question # 2

Teh single entry system of book keeping is generay followed by

Question # 3

Cash book is prepared to find out the figure of.

Question # 4

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

Question # 5

Both aspects of a transaction must be recorded in,

Question # 6

Arithmetical accuracy of the books of accounts cannot be checked under.

Question # 7

In appearance, the statement of affairs, is similar to a.

Question # 8

Under single entry system sometimes,

Question # 9

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

Question # 10

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

Question # 11

Closing capital in single entry system is calculated by preparing,

Question # 12

North worth of an organizaton means the excess of its total assets over total.

Question # 13

In single entry it is not possible to prepare

Question # 14

The closing balance of trade debtors can be located from.

Question # 15

Single entry systme can bot be maintained by.

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

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
2 Single entry system contains,
A. A daybook or general journal
B. A cash book
C. Ledger accounts for individual customers and creditors
D. All of the above
3 Single entry systme can bot be maintained by.
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
4 According to companies ordinance, single entry system cannot be adopted by,
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
5 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
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 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
9 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
10 Cash received from the debtors can be find out by preparing.
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance

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