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	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
2	Both aspects of a transaction must be recorded in,	A. Single entry system B. Barter system C. Double entry system D. Islamic system
3	Single entry system is generally adopted by,	A. Small business concerns B. Large business concerns C. Medium business concerns D. All of the above
4	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
5	Single entry systme can bot be maintained by.	A. Sole owner B. Partnership concern C. Joint stock companies D. All of the above
6	Closing capital in single entry system is calculated by preparing,	A. Opening statement of affairs B. Closing statement of affairs C. Opening balance sheet D. Closing balance sheet
7	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
8	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
9	In single entry system real accounts are not maintained so the preparation of,	A. Correctly B. Effectively C. Wrongly D. Approximately
10	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

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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

In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,

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

Teh single entry system of book keeping is generay followed by

In single entry it is not possible to prepare

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,

In single entry system real accounts are not maintained so the preparation of,

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

The closing balance of trade debtors can be located from.

Double entry system means

According to companies ordinance, single entry system cannot be adopted by,

Arithmetical accuracy of the books of accounts cannot be checked under.

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

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

Closing capital in single entry system is calculated by preparing,

In single entry system,

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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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