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

The figure of the credit purchase can be worked out.

Question # 2

In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,

Question # 3

How many mathods are available to calculate the profit or loss under single entery system.

Question # 4

In cash of net worth method of sigle entery system net profikt is ascertained by.

Question # 5

Single entry system is generally adopted by,

Question # 6

To calculate the true net profit or net loss in single entry system it is necessary that the amount of fresh capital should be subtracted from,

Question # 7

Single entry systme can bot be maintained by.

Question # 8

Cash received from the debtors can be find out by preparing.

Question # 9

Under single entry system sometimes,

Question # 10

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Question # 11

In single entry it is not possible to prepare

Question # 12

The Closing Capital is worked out by preparing the.

Question # 13

Opening capital is calculated by taking the difference between,

Question # 14

Under single entery system informatoin relating to expenses must be ascertained from the analysis of.

Question # 15

In single entry system ledger contains the accounts of,

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Principles of Accounting
1st Chapter

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 Single entry system is suitable where,
A. Small amount of cash transactions are more
B. Large amount of cash transaction are more
C. Smallamount of cash transaction are more
D. Largeamount of cash transaction are more
2 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
3 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
4 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
5 In appearance, the statement of affairs, is similar to a.
A. Balance sheet
B. Profit and loss account
C. Trading account
D. Bank Reconciliation statement
6 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
7 In single entry it is not possible to prepare
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
8 To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
A. Balance sheet
B. Trading account
C. Trial balance
D. Statement of affairs
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 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

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