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

  • Total Questions15

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

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Question # 1

Cash paid to creditors can be woked out from.

Question # 2

In single entry system,

Question # 3

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

Question # 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,

Question # 5

In increased net worth method, profit or loss is calculated by preparing,

Question # 6

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

Question # 7

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

Question # 8

Single entery system is most suitbale where

Question # 9

In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,

Question # 10

Single entry system is generally adopted by,

Question # 11

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

Question # 12

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

Question # 13

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

Question # 14

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

Question # 15

Single entry system is suitable where,

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