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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
We cannot prepare the trial balance and precise balance sheet under,
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
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 4
Cash paid to creditors can be woked out from.
Question # 5
Due to fresh capital introduced during the year, the closing capital will,
Question # 6
Opening capital is calculated by taking the difference between,
Question # 7
Net worth is equal to,
Question # 8
Single entery system is most suitbale where
Question # 9
Double entry system means
Question # 10
Single entry system is suitable where,
Question # 11
Closing capital in single entry system is calculated by preparing,
Question # 12
In single entry system,
Question # 13
The opening capitla is ascertained by preparing.
Question # 14
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 15
In case of dissolution, assets sold for cash are debited to.
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 -
A adina waqas 05 - Dec - 2024 02 Min 37 Sec 13/15 -
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 -
M Mehwish Mughal 29 - Oct - 2024 06 Min 17 Sec 12/15 -
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 Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | In single entry system both the aspects, debit and credit of a transaction are not recorded soit is. |
A. Incomplete and unscientific
B. Complete and scientific
C. Incompleted and scientific
D. Complete and unscientific
|
| 3 | Not worth method is equal to. |
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
|
| 4 | The opening capitla is ascertained by preparing. |
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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
|
| 8 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 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 | Under single entry system sometimes, |
A. Double aspects of a transaction are recorded
B. Single aspect of a transaction is recorded
C. No aspect of a transaction is recorded
D. All of the above
|
Test Questions