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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 increased net worth method, profit or loss is calculated by preparing,
Question # 2
Due to drawings made during the year, the closing capital will,
Question # 3
Single entery system is most suitbale where
Question # 4
The figure of the credit purchase can be worked out.
Question # 5
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 6
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 7
Bad debt written off always affect the
Question # 8
We cannot prepare the trial balance and precise balance sheet under,
Question # 9
Double entry system means
Question # 10
The Closing Capital is worked out by preparing the.
Question # 11
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
Question # 12
Under single entry system sometimes,
Question # 13
Cash book is prepared to find out the figure of.
Question # 14
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 15
Due to fresh capital introduced during the year, the closing capital will,
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 -
M Maryam Nazar 23 - Apr - 2026 02 Min 55 Sec 11/15 -
F Fatima Akram 11 - Oct - 2024 03 Min 00 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In case of dissolution, assets sold for cash are debited to. |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 2 | Under single entery system informatoin relating to expenses must be ascertained from the analysis of. |
A. Debtors account
B. Creditors account
C. Sales book
D. Cash book
|
| 3 | The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called. |
A. Single , entery system
B. Accrual system
C. Double enterysystem
D. Cash system
|
| 4 | 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
|
| 5 | The closing balance of trade debtors can be located from. |
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
|
| 6 | Teh single entry system of book keeping is generay followed by |
A. Small business concern
B. Large Business concern
C. Non trading concern
D. None of these
|
| 7 | In single entery system only. |
A. Personal account are maintained
B. Real account are maintained
C. Nominal accounts are maintained
D. None of the above
|
| 8 | Double entry system means |
A. The recording of same things twice
B. Double accounting
C. The two sides of every transaction are recorded
D. Entry at two dates
|
| 9 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 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