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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
Double entry system means
Question # 2
Teh single entry system of book keeping is generay followed by
Question # 3
In cash of net worth method of sigle entery system net profikt is ascertained by.
Question # 4
The figure of the credit purchase can be worked out.
Question # 5
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
Question # 6
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 7
In single entrey system statements of assets and liabilities is called.
Question # 8
Cash paid to creditors can be woked out from.
Question # 9
The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.
Question # 10
In single entery system only.
Question # 11
In single entry system,
Question # 12
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 13
How many methods are available to calculate the profit or loss under single entry system,
Question # 14
Due to drawings made during the year, the closing capital will,
Question # 15
The Closing Capital is worked out by preparing the.
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 -
I ikram ullah 22 - Nov - 2024 07 Min 39 Sec 14/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 2 | The figure of the bills receivable can be worked out from. |
A. Total debtors account
B. Total creditors account
C. Trail balance
D. Balance sheet
|
| 3 | 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
|
| 4 | 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
|
| 5 | Not worth method is equal to. |
A. Liabilities - assets
B. Assets- liabilities
C. Capital + assets
D. None of these
|
| 6 | Double entry system means |
A. The recording of same things twice
B. Double accounting
C. The two sides of every transaction are recorded
D. Entry at two dates
|
| 7 | 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
|
| 8 | A statement of assets and liabilities is prepared under the single entery system is called. |
A. Balance sheet
B. Financial statement
C. Statement of affair
D. Cash transaction
|
| 9 | 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
|
| 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
|
Test Questions