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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
How many mathods are available to calculate the profit or loss under single entery system.
Question # 2
Single entry systme can bot be maintained by.
Question # 3
The closing balance of trade debtors can be located from.
Question # 4
Teh single entry system of book keeping is generay followed by
Question # 5
Under the conversion method of single entry credit salea are ascertained by preparing the.
Question # 6
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 7
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Question # 8
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.
Question # 9
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 10
In increased net worth method, profit or loss is calculated by preparing,
Question # 11
The Closing Capital is worked out by preparing the.
Question # 12
Cash received from the debtors can be find out by preparing.
Question # 13
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 14
Opening capital is calculated by taking the difference between,
Question # 15
In case of dissolution, assets sold for cash are debited to.
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 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The figure of the credit purchase can be worked out. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
|
| 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 | The opening and closing balance of bills Receivable can be calculated by preparing the. |
A. Total debtors accounts
B. Total creditors account
C. Bills Recivable accounts
D. Salaes accounts
|
| 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, |
A. Adjusted closing capital
B. Closing capital
C. Cash in hand
D. Cash at bank
|
| 5 | Under single entery system informatoin relating to expenses must be ascertained from the analysis of. |
A. Debtors account
B. Creditors account
C. Sales book
D. Cash book
|
| 6 | If the cash sales are missing they are to be ascertained by the construction of. |
A. Debtors account
B. Creditors account
C. Cash account
D. None of these
|
| 7 | Single entry system is generally adopted by, |
A. Small business concerns
B. Large business concerns
C. Medium business concerns
D. All of the above
|
| 8 | Due to fresh capital introduced during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 9 | In cash of net worth method of sigle entery system net profikt is ascertained by. |
A. Prepareing the trading and profit and account
B. By cimparing the capitals in the beginning and at the end of the accounting period.
C. Capital closing + Drawing - fresh capital - opening capital
D. Capital opening+ Drawing - fresh capital-closing stock
|
| 10 | 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
|
Test Questions