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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
Bills payable issued durint the period must be debited to total creditors account credited to.
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
Cash book is prepared to find out the figure of.
Question # 4
In single entry it is not possible to prepare
Question # 5
How many methods are available to calculate the profit or loss under single entry system,
Question # 6
Single entery system is most suitbale where
Question # 7
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 8
Closing capital in single entry system is calculated by preparing,
Question # 9
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
Question # 10
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 11
Single entry systme can bot be maintained by.
Question # 12
Single entry system is generally adopted by,
Question # 13
The closing balance of trade debtors can be located from.
Question # 14
In single entery system only.
Question # 15
The opening and closing balance of bills Receivable can be calculated by preparing the.
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 -
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Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
F Fatima Waseem 09 - Dec - 2024 03 Min 54 Sec 12/15 -
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M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
F Fatima Akram 11 - Oct - 2024 03 Min 00 Sec 11/15 -
A Ali Shah 24 - Nov - 2024 03 Min 48 Sec 11/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Both aspects of a transaction must be recorded in, |
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
|
| 2 | 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
|
| 3 | In single entry system real accounts are not maintained so the preparation of, |
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
|
| 4 | In increased net worth method, profit or loss is calculated by preparing, |
A. Income and expenditure account
B. Profit and loss account
C. Statement of profit or loss
D. Balance sheet
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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
|
| 9 | 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
|
| 10 | According to companies ordinance, single entry system cannot be adopted by, |
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
|
Test Questions