12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

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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	Single entery system is most suitbale where	A. Credit transactions are numerous. B. Cash transactions are numerous C. Cahs and credit transactions both are numerios D. None of the above
3	In case of dissolution, assets sold for cash are debited to.	A. Realization account B. Cash account C. Assets account D. None of these
4	Bills payable issued durint the period must be debited to total creditors account credited to.	A. Bills payable account B. Bills receivable account C. Debtora account D. Cash account
5	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,	A. Adjusted closing capital B. Closing capital C. Cash in hand D. Cash at bank
6	Single entry systme can bot be maintained by.	A. Sole owner B. Partnership concern C. Joint stock companies D. All of the above
7	In appearance, the statement of affairs, is similar to a.	A. Balance sheet B. Profit and loss account C. Trading account D. Bank Reconciliation statement
8	Due to drawings made during the year, the closing capital will,	A. Increase B. Decrease C. Constant D. Multiply
9	The figure of the credit purchase can be worked out.	A. Total debtors account B. Total creditors account C. Cash book D. Balance sheet
10	Opening capital is calculated by taking the difference between,	A. Opening assets and closing assets B. Opening assets and closing liabilities C. Opening assets and Opening liabilities D. Closing assets and closing liabilities

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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

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"

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

A statement of assets and liabilities is prepared under the single entery system is called.

Due to fresh capital introduced during the year, the closing capital will,

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

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

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

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

Single entry system is generally adopted by,

Closing capital in single entry system is calculated by preparing,

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

The opening capitla is ascertained by preparing.

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

How many mathods are available to calculate the profit or loss under single entery system.

In cash of net worth method of sigle entery system net profikt is ascertained by.

Opening capital is calculated by taking the difference between,

The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.

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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

ICom Part II Principles of Accounting Chapter 0 Important MCQ's

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