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

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

Sr. #	Questions	Answers Choice
1	In single entry system real accounts are not maintained so the preparation of,	Correctly Effectively Wrongly Approximately
2	In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,	Debtors account Creditors account Trial balance Statement of affairs
3	In single entry system ledger contains the accounts of,	Debtors, creditors and cash Wages and carriage Salaries and insurance Assets and liabilities
4	In single entry system,	Personal accounts are maintained Real accounts are maintained Nominal accounts are maintained None of the above
5	Single entry system contains,	A daybook or general journal A cash book Ledger accounts for individual customers and creditors All of the above
6	Single entry system is generally adopted by,	Small business concerns Large business concerns Medium business concerns All of the above
7	Under single entry system sometimes,	Double aspects of a transaction are recorded Single aspect of a transaction is recorded No aspect of a transaction is recorded All of the above
8	Double entry system means	The recording of same things twice Double accounting The two sides of every transaction are recorded Entry at two dates