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

Under single entry system sometimes,

Question # 2

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

Question # 3

In single entry it is not possible to prepare

Question # 4

Opening capital is calculated by taking the difference between,

Question # 5

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

Question # 6

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

Question # 7

In cash of net worth method of sigle entery system net profikt is ascertained 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

Not worth method is equal to.

Question # 10

Both aspects of a transaction must be recorded in,

Question # 11

Due to fresh capital introduced during the year, the closing capital will,

Question # 12

Single entry systme can bot be maintained by.

Question # 13

The figure of the bills receivable can be worked out from.

Question # 14

Cash paid to creditors can be woked out from.

Question # 15

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

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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 appearance, the statement of affairs, is similar to a.
A. Balance sheet
B. Profit and loss account
C. Trading account
D. Bank Reconciliation statement
2 Both aspects of a transaction must be recorded in,
A. Single entry system
B. Barter system
C. Double entry system
D. Islamic system
3 Under the conversion method of single entry credit salea are ascertained by preparing the.
A. Total debtors account
B. Total creditors account
C. Total cash account
D. Total bills receivable account
4 We cannot prepare the trial balance and precise balance sheet under,
A. Single entry system
B. Double entry system
C. "a" and "b"
D. Barter system
5 In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
A. Incomplete and unscientific
B. Complete and scientific
C. Incompleted and scientific
D. Complete and unscientific
6 Cash paid to creditors can be woked out from.
A. Debtora account
B. Creditors account
C. Balance sheet
D. None of theses
7 The closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
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 How many methods are available to calculate the profit or loss under single entry system,
A. One
B. Two
C. Three
D. Four
10 The fingure of bills payable is worked out by preparing the.
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet

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