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

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

Question # 2

If the cash sales are missing they are to be ascertained by the construction of.

Question # 3

In single entry it is not possible to prepare

Question # 4

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

Question # 5

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

Question # 6

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

Question # 7

To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,

Question # 8

Both aspects of a transaction must be recorded in,

Question # 9

Due to drawings made during the year, the closing capital will,

Question # 10

The figure of the credit purchase can be worked out.

Question # 11

Teh single entry system of book keeping is generay followed by

Question # 12

Single entery system is most suitbale where

Question # 13

Bad debt written off always affect the

Question # 14

Single entry system contains,

Question # 15

Single entry system is generally adopted by,

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Principles of Accounting
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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 The opening and closing balance of bills Receivable can be calculated by preparing the.
A. Total debtors accounts
B. Total creditors account
C. Bills Recivable accounts
D. Salaes accounts
2 In single entry it is not possible to prepare
A. Trial balance
B. Trading account
C. Profit and loss account
D. Balance sheet
3 The opening capitla is ascertained by preparing.
A. Cash account
B. Opening statements of affairs
C. Total debtors account
D. Total creditors account
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 Both aspects of a transaction must be recorded in,
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
6 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
7 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
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 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
10 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

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