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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
Bad debt written off always affect the
Question # 2
Under single entry system sometimes,
Question # 3
Closing capital in single entry system is calculated by preparing,
Question # 4
In case of dissolution, assets sold for cash are debited to.
Question # 5
In single entery system only.
Question # 6
How many methods are available to calculate the profit or loss under single entry system,
Question # 7
Teh single entry system of book keeping is generay followed by
Question # 8
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 9
A statement of assets and liabilities is prepared under the single entery system is called.
Question # 10
Single entry system contains,
Question # 11
North worth of an organizaton means the excess of its total assets over total.
Question # 12
Net worth is equal to,
Question # 13
In single entry system real accounts are not maintained so the preparation of,
Question # 14
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 # 15
In appearance, the statement of affairs, is similar to a.
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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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 | Under single entry system sometimes, |
A. Double aspects of a transaction are recorded
B. Single aspect of a transaction is recorded
C. No aspect of a transaction is recorded
D. All of the above
|
| 2 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 3 | 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
|
| 4 | How many methods are available to calculate the profit or loss under single entry system, |
A. One
B. Two
C. Three
D. Four
|
| 5 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 6 | 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
|
| 7 | Bad debt written off always affect the |
A. Deblor's account
B. Creditors account
C. Cash account
D. All of the above
|
| 8 | Single entry systme can bot be maintained by. |
A. Sole owner
B. Partnership concern
C. Joint stock companies
D. All of the above
|
| 9 | In single entry system, |
A. Personal accounts are maintained
B. Real accounts are maintained
C. Nominal accounts are maintained
D. None of the above
|
| 10 | 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
|
Test Questions