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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"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test
00:00
Question # 1
Net worth is equal to,
Question # 2
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 3
Single entry systme can bot be maintained by.
Question # 4
Cash paid to creditors can be woked out from.
Question # 5
If the cash sales are missing they are to be ascertained by the construction of.
Question # 6
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 7
The closing balance of trade debtors can be located from.
Question # 8
North worth of an organizaton means the excess of its total assets over total.
Question # 9
According to companies ordinance, single entry system cannot be adopted by,
Question # 10
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 11
Double entry system means
Question # 12
Bad debt written off always affect the
Question # 13
In single entrey system statements of assets and liabilities is called.
Question # 14
Not worth method is equal to.
Question # 15
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
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
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T Taiba Siddique 04 - Jun - 2024 00 Min 16 Sec 15/15 -
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 -
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R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
R RV King 09 - May - 2024 04 Min 31 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 -
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M Malaika MA 03 - Aug - 2024 02 Min 33 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 Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 2 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
|
| 3 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 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 | How many methods are available to calculate the profit or loss under single entry system, |
A. One
B. Two
C. Three
D. Four
|
| 6 | Acceptance received durinthe period must be debited to bills receivable account and credited to. |
A. Total bills receivable account
B. Total debtors account
C. total cash account
D. Total bills receivabel account
|
| 7 | 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
|
| 8 | 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
|
| 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 | 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
|
Test Questions