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

Under single entry system sometimes,

Question # 2

The closing balance of trade debtors can be located from.

Question # 3

In single entry it is not possible to prepare

Question # 4

We cannot prepare the trial balance and precise balance sheet under,

Question # 5

If the cash sales are missing they are to be ascertained by the construction of.

Question # 6

In single entrey system statements of assets and liabilities is called.

Question # 7

Single entry system is generally adopted by,

Question # 8

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

Question # 9

The Closing Capital is worked out by preparing the.

Question # 10

Under the conversion method of single entry credit salea are ascertained by preparing the.

Question # 11

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

Question # 12

In single entery system only.

Question # 13

Double entry system means

Question # 14

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

Question # 15

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,

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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 Cash book is prepared to find out the figure of.
A. Opening capital
B. Crosing cash balance
C. Net profit
D. Finaincial position
2 Cash paid to creditors can be woked out from.
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
3 According to companies ordinance, single entry system cannot be adopted by,
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
4 How many mathods are available to calculate the profit or loss under single entery system.
A. One
B. Two
C. Three
D. Four
5 Both aspects of a transaction must be recorded in,
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
6 The opening capitla is ascertained by preparing.
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
7 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
8 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
9 In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
A. Debtors account
B. Creditors account
C. Trial balance
D. Statement of affairs
10 The fingure of bills payable is worked out by preparing the.
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet

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