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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
Closing capital in single entry system is calculated by preparing,
Question # 2
Cash book is prepared to find out the figure of.
Question # 3
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 4
Teh single entry system of book keeping is generay followed by
Question # 5
Single entery system is most suitbale where
Question # 6
If the cash sales are missing they are to be ascertained by the construction of.
Question # 7
How many mathods are available to calculate the profit or loss under single entery system.
Question # 8
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 9
North worth of an organizaton means the excess of its total assets over total.
Question # 10
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 11
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
Question # 12
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 13
In single entery system only.
Question # 14
Under single entry system sometimes,
Question # 15
Cash received from the debtors can be find out by preparing.
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 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | Both aspects of a transaction must be recorded in, |
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
|
| 4 | In single entry it is not possible to prepare |
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
|
| 5 | 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
|
| 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 | Acceptance received durinthe period must be debited to bills receivable account and credited to. |
A. Total bills receivable account
B. Total debtors account
C. total cash account
D. Total bills receivabel account
|
| 8 | A statement of assets and liabilities is prepared under the single entery system is called. |
A. Balance sheet
B. Financial statement
C. Statement of affair
D. Cash transaction
|
| 9 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 10 | In single entry system real accounts are not maintained so the preparation of, |
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
|
Test Questions