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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,
Question # 2
The figure of the bills receivable can be worked out from.
Question # 3
Both aspects of a transaction must be recorded in,
Question # 4
Net worth is equal to,
Question # 5
Teh single entry system of book keeping is generay followed by
Question # 6
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 7
Single entry system is generally adopted by,
Question # 8
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
Question # 9
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 # 10
In single entry it is not possible to prepare
Question # 11
Single entry system contains,
Question # 12
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 13
The closing balance of trade debtors can be located from.
Question # 14
In case of dissolution, assets sold for cash are debited to.
Question # 15
Single entery system is most suitbale where
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 entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 2 | Arithmetical accuracy of the books of accounts cannot be checked under. |
A. Single Entry system
B. Double entery system
C. None entery system
D. Both a and b
|
| 3 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 4 | Not worth method is equal to. |
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
|
| 5 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 6 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 7 | To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare, |
A. Balance sheet
B. Trading account
C. Trial balance
D. Statement of affairs
|
| 8 | In single entry it is not possible to prepare |
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
|
| 9 | Single entry system is generally adopted by, |
A. Small business concerns
B. Large business concerns
C. Medium business concerns
D. All of the above
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| 10 | 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
|
Test Questions