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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
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 2
In single entry system ledger contains the accounts of,
Question # 3
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
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
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 6
In single entery system only.
Question # 7
The opening capitla is ascertained by preparing.
Question # 8
Cash received from the debtors can be find out by preparing.
Question # 9
Bad debt written off always affect the
Question # 10
Both aspects of a transaction must be recorded in,
Question # 11
The figure of the bills receivable can be worked out from.
Question # 12
Opening capital is calculated by taking the difference between,
Question # 13
If the cash sales are missing they are to be ascertained by the construction of.
Question # 14
How many methods are available to calculate the profit or loss under single entry system,
Question # 15
Single entry system contains,
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 -
A adina waqas 05 - Dec - 2024 02 Min 37 Sec 13/15 -
R Raja Musa Sohail 08 - May - 2024 03 Min 14 Sec 13/15 -
R RV King 09 - May - 2024 04 Min 31 Sec 13/15 -
R Rabail Fizza 21 - Sep - 2025 22 Min 03 Sec 13/15 -
Y youth flavour 14 - Dec - 2024 03 Min 37 Sec 12/15 -
F Fatima Waseem 09 - Dec - 2024 03 Min 54 Sec 12/15 -
M Mehwish Mughal 29 - Oct - 2024 06 Min 17 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 33 Sec 11/15 -
F Fatima Akram 11 - Oct - 2024 03 Min 00 Sec 11/15 -
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 | The closing balance of trade debtors can be located from. |
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
|
| 3 | 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
|
| 4 | Both aspects of a transaction must be recorded in, |
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
|
| 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 | 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
|
| 7 | The figure of the bills receivable can be worked out from. |
A. Total debtors account
B. Total creditors account
C. Trail balance
D. Balance sheet
|
| 8 | Cash paid to creditors can be woked out from. |
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
|
| 9 | Due to fresh capital introduced during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 10 | Single entry system is generally adopted by, |
A. Small business concerns
B. Large business concerns
C. Medium business concerns
D. All of the above
|
Test Questions