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

In single entry system,

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

Cash book is prepared to find out the figure of.

Question # 6

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

Question # 7

Single entery system is most suitbale where

Question # 8

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

Question # 9

Not worth method is equal to.

Question # 10

Cash paid to creditors can be woked out from.

Question # 11

Opening capital is calculated by taking the difference between,

Question # 12

Acceptance received durinthe period must be debited to bills receivable account and credited to.

Question # 13

The fingure of bills payable is worked out by preparing the.

Question # 14

Single entry system contains,

Question # 15

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

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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 contains,
A. A daybook or general journal
B. A cash book
C. Ledger accounts for individual customers and creditors
D. All of the above
2 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
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 figure of the bills receivable can be worked out from.
A. Total debtors account
B. Total creditors account
C. Trail balance
D. Balance sheet
5 In single entry it is not possible to prepare
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
6 The figure of the credit purchase can be worked out.
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
7 In single entry system,
A. Personal accounts are maintained
B. Real accounts are maintained
C. Nominal accounts are maintained
D. None of the above
8 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
9 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
10 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

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