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

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test

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Taiba Siddique 04 - Jun - 2024 00 Min 16 Sec 15/15
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Tariq Mohmood 03 - Nov - 2024 01 Min 55 Sec 14/15
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Mehwish Mughal 29 - Oct - 2024 06 Min 17 Sec 12/15
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Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.#	Question	Answer
1	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
2	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
3	The figure of the credit purchase can be worked out.	A. Total debtors account B. Total creditors account C. Cash book D. Balance sheet
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	We cannot prepare the trial balance and precise balance sheet under,	A. Single entry system B. Double entry system C. "a" and "b" D. Barter system
6	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
7	North worth of an organizaton means the excess of its total assets over total.	A. Liabilities B. Income C. Expenses D. None of the above
8	In single entry system,	A. Personal accounts are maintained B. Real accounts are maintained C. Nominal accounts are maintained D. None of the above
9	According to companies ordinance, single entry system cannot be adopted by,	A. Sole proprietorship B. Partnership C. "a" and "b" D. Joint stock companies
10	Due to fresh capital introduced during the year, the closing capital will,	A. Increase B. Decrease C. Constant D. Multiply

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

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

In single entry system ledger contains the accounts of,

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

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

In case of dissolution, assets sold for cash are debited to.

North worth of an organizaton means the excess of its total assets over total.

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

The figure of the bills receivable can be worked out from.

Teh single entry system of book keeping is generay followed by

Single entry system contains,

Not worth method is equal to.

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,

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

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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