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

00:00
Question # 1

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

Question # 2

We cannot prepare the trial balance and precise balance sheet under,

Question # 3

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

Question # 4

The Closing Capital is worked out by preparing the.

Question # 5

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

Question # 6

In single entry it is not possible to prepare

Question # 7

Single entry systme can bot be maintained by.

Question # 8

Cash book is prepared to find out the figure of.

Question # 9

Not worth method is equal to.

Question # 10

Net worth is equal to,

Question # 11

The fingure of bills payable is worked out by preparing the.

Question # 12

Cash paid to creditors can be woked out from.

Question # 13

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

Question # 14

A statement of assets and liabilities is prepared under the single entery system is called.

Question # 15

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

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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 closing balance of trade debtors can be located from.
A. Total debtors account
B. Balance sheet
C. Bils receivable account
D. Cash book
2 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
3 In single entrey system statements of assets and liabilities is called.
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
4 Net worth is equal to,
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
5 Due to fresh capital introduced during the year, the closing capital will,
A. Increase
B. Decrease
C. Constant
D. Multiply
6 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
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 Capital is worked out by preparing the.
A. Opening statement of affair
B. Closing statement of affiar
C. Cash book
D. Balance sheet
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 Due to drawings made during the year, the closing capital will,
A. Increase
B. Decrease
C. Constant
D. Multiply

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