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12th Principles of Accounting Chapter 2 Test

Here you can prepare 12th Class Principles of Accounting Chapter 2 The Accounts of Non-Profit Making Organizations Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 2 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 2 (The Accounts of Non-Profit Making Organizations)

This online test contains MCQs about following topics:

. What are Non Profit Making Organizations . Receipts and Payments Account . Distinction Between Cash Book and Receipts and Payments Account . Income and Expenditure Account . Some Particular Items of a Non-Profit making Concerns . Method of Conversion of Receipt and Payments Account into Income and Expenditure Account . Dintinction between Receipts and Payments Account andIncome and Expenditure Account

ICOM Part 2 Accounting Ch 2 Test
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12th class Principle of Accounting chapter 2 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 2 (The Accounts of Non-Profit Making Organizations)

Sr. # Questions Answers Choice
1 All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to
  • A. Single entry system
  • B. Double entry system
  • C. Treble entry system
  • D. "a" and "b"
2 Non-profit making organization is also known as
  • A. Non-profit seeking concern
  • B. Non-trading concern
  • C. Trading concern
  • D. "a" and "b"
3 A person who is elected to run the club
  • A. Treasurer
  • B. Secretary
  • C. Chairperson
  • D. President
4 Example of non-profit making organization
  • A. Fan factory
  • B. Sugar industry
  • C. Hospital
  • D. Shoe factory
5 Income and expenditure account records the transactions of
  • A. Revenue nature
  • B. Capital nature
  • C. Revenue and capital nature
  • D. None of the these
6 Receipts and payments account shows
  • A. Debit and credit balances of ledgers
  • B. Incomes and expenditures
  • C. Cash receipts and payments
  • D. Assets and liabilities
7 A receipts and payments account is similar to
  • A. An income and expenditure
  • B. A statement of affair
  • C. A cash or a bank account
  • D. A profit or loss account
8 In cash book
  • A. Each entry is followed by narration
  • B. Ledger reference is recorded
  • C. Each transaction is recorded in chronological order
  • D. All of the above
9 Non-profit seeking organizations prepare
  • A. Manufacturing account
  • B. Trading account
  • C. Income and expenditure account
  • D. Profit and loss account
10 The method for preparing the final accounts in trading concerns and non-profit making organizations are
  • A. Same
  • B. Different
  • C. Easy
  • D. Difficult

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test

A

Abdullah Iftikhar Iftikhar Ahmed

Lahore04 - Dec - 2021

14/15
54 Sec
S

Shakir Ahned

Lahore12 - Dec - 2021

14/15
02 Mins 27 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

14/15
03 Mins 05 Sec
A

Abdullah Iftikhar Iftikhar Ahmed

Lahore04 - Dec - 2021

13/15
01 Mins 32 Sec
N

Noor Fatima

Lahore13 - Jan - 2022

13/15
02 Mins 09 Sec
A

Abdullah Iftikhar Iftikhar Ahmed

Lahore04 - Dec - 2021

13/15
03 Mins 20 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

12/15
03 Mins 56 Sec
S

Shakir Ahned

Lahore12 - Dec - 2021

10/15
04 Mins 46 Sec
D

Duaa

Lahore27 - Dec - 2021

9/15
03 Mins 11 Sec
D

Drama Time

Lahore25 - Nov - 2021

9/15
08 Mins 01 Sec
I

Ifrah Qaboos

Lahore07 - Dec - 2021

8/15
03 Mins 28 Sec

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