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

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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"

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Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

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Question # 1

Bad debt written off always affect the

Question # 2

Both aspects of a transaction must be recorded in,

Question # 3

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Question # 4

In single entry it is not possible to prepare

Question # 5

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

Question # 6

How many methods are available to calculate the profit or loss under single entry system,

Question # 7

In single entry system,

Question # 8

In single entrey system statements of assets and liabilities is called.

Question # 9

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

Question # 10

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

Question # 11

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

Question # 12

Single entery system is most suitbale where

Question # 13

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

Question # 14

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

Question # 15

Cash received from the debtors can be find out by preparing.

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ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 In single entry system ledger contains the accounts of,
A. Debtors, creditors and cash
B. Wages and carriage
C. Salaries and insurance
D. Assets and liabilities
2 The opening capitla is ascertained by preparing.
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
3 In single entry system real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
4 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
5 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
6 The figure of the credit purchase can be worked out.
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
7 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
8 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
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 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book

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