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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
In appearance, the statement of affairs, is similar to a.
Question # 2
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 # 3
In case of dissolution, assets sold for cash are debited to.
Question # 4
In single entrey system statements of assets and liabilities is called.
Question # 5
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 6
Bad debt written off always affect the
Question # 7
Teh single entry system of book keeping is generay followed by
Question # 8
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 9
If the cash sales are missing they are to be ascertained by the construction of.
Question # 10
The Closing Capital is worked out by preparing the.
Question # 11
The fingure of bills payable is worked out by preparing the.
Question # 12
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 13
Cash paid to creditors can be woked out from.
Question # 14
Closing capital in single entry system is calculated by preparing,
Question # 15
How many methods are available to calculate the profit or loss under single entry system,
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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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
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| 2 | In case of dissolution, assets sold for cash are debited to. |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 3 | Cash book is prepared to find out the figure of. |
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
|
| 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 single entry system real accounts are not maintained so the preparation of, |
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
|
| 6 | North worth of an organizaton means the excess of its total assets over total. |
A. Liabilities
B. Income
C. Expenses
D. None of the above
|
| 7 | 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
|
| 8 | 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
|
| 9 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
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| 10 | 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
|
Test Questions