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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 single entry system real accounts are not maintained so the preparation of,
Question # 2
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 3
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 4
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 # 5
In case of dissolution, assets sold for cash are debited to.
Question # 6
In single entry system,
Question # 7
The figure of the credit purchase can be worked out.
Question # 8
Due to drawings made during the year, the closing capital will,
Question # 9
Due to fresh capital introduced during the year, the closing capital will,
Question # 10
Net worth is equal to,
Question # 11
The opening capitla is ascertained by preparing.
Question # 12
Cash book is prepared to find out the figure of.
Question # 13
How many mathods are available to calculate the profit or loss under single entery system.
Question # 14
Bills payable issued durint the period must be debited to total creditors account credited to.
Question # 15
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
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 -
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R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
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Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
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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 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
|
| 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 | Single entry system is suitable where, |
A. Small amount of cash transactions are more
B. Large amount of cash transaction are more
C. Smallamount of cash transaction are more
D. Largeamount of cash transaction are more
|
| 4 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 5 | Single entery system is most suitbale where |
A. Credit transactions are numerous.
B. Cash transactions are numerous
C. Cahs and credit transactions both are numerios
D. None of the above
|
| 6 | 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
|
| 7 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 8 | The closing balance of trade debtors can be located from. |
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
|
| 9 | 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
|
| 10 | How many methods are available to calculate the profit or loss under single entry system, |
A. One
B. Two
C. Three
D. Four
|
Test Questions