12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test" MCQ`s Test

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Maryam Nazar 23 - Apr - 2026 02 Min 55 Sec 11/15
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.#	Question	Answer
1	Net worth is equal to,	A. Assets - Liabilities B. Liabilities - Assets C. Liabilities + Capital D. Capital + Assets
2	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
3	Cash book is prepared to find out the figure of.	A. Opening capital B. Crosing cash balance C. Net profit D. Finaincial position
4	In case of dissolution, assets sold for cash are debited to.	A. Realization account B. Cash account C. Assets account D. None of these
5	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
6	Arithmetical accuracy of the books of accounts cannot be checked under.	A. Single Entry system B. Double entery system C. None entery system D. Both a and b
7	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
8	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
9	The figure of the credit purchase can be worked out.	A. Total debtors account B. Total creditors account C. Cash book D. Balance sheet
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

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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

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"

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

The opening capitla is ascertained by preparing.

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

Double entry system means

Acceptance received durinthe period must be debited to bills receivable account and credited to.

The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.

In appearance, the statement of affairs, is similar to a.

How many methods are available to calculate the profit or loss under single entry system,

Single entry system is suitable where,

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Bills payable issued durint the period must be debited to total creditors account credited to.

Single entry system contains,

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

In single entrey system statements of assets and liabilities is called.

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

Single entry systme can bot be maintained by.

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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

ICom Part II Principles of Accounting Chapter 0 Important MCQ's

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