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

In single entry system,

Question # 2

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

Question # 3

The opening capitla is ascertained by preparing.

Question # 4

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

Question # 5

Single entry system is generally adopted by,

Question # 6

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 # 7

Closing capital in single entry system is calculated by preparing,

Question # 8

Double entry system means

Question # 9

Under single entery system informatoin relating to expenses must be ascertained from the analysis of.

Question # 10

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

Question # 11

Cash paid to creditors can be woked out from.

Question # 12

Not worth method is equal to.

Question # 13

According to companies ordinance, single entry system cannot be adopted by,

Question # 14

The Closing Capital is worked out by preparing the.

Question # 15

How many mathods are available to calculate the profit or loss under single entery system.

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Principles of Accounting
1st Chapter

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 real accounts are not maintained so the preparation of,
A. Correctly
B. Effectively
C. Wrongly
D. Approximately
2 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
3 According to companies ordinance, single entry system cannot be adopted by,
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
4 Teh single entry system of book keeping is generay followed by
A. Small business concern
B. Large Business concern
C. Non trading concern
D. None of these
5 Single entry system is generally adopted by,
A. Small business concerns
B. Large business concerns
C. Medium business concerns
D. All of the above
6 Both aspects of a transaction must be recorded in,
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
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 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 In case of dissolution, assets sold for cash are debited to.
A. Realization account
B. Cash account
C. Assets account
D. None of these
10 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

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