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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test
00:00
Question # 1
Income and expenditure account is credited with all.
Question # 2
In cash book
Question # 3
Lagacies are generally treated as.
Question # 4
Donation receivedin heavy amount are treated as.
Question # 5
The difference of the two sides of receipt and payment account represents.
Question # 6
Income and expenditure account shows
Question # 7
Non-profit seeking organizations prepare
Question # 8
In receipt and payments account
Question # 9
Excess of liablilities over assets is an indication of .
Question # 10
An income and expenditure account is.
Question # 11
The Receipt and payment account is the summery of the
Question # 12
Accured subscripttion represents.
Question # 13
At the end of the year non trading institutions prepare.
Question # 14
Capital is obtained by deductin liabiliities from.
Question # 15
Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's
ICOM Part 2 English Medium Principles of Accounting Chapter 2 MCQ's Test
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Capital fun of non trading concern is equal to. |
A. Assets + Income
B. Assets + Liabilities
C. Expenditure + Liabilities.
D. Assets - Liabilities
|
| 2 | Example of non-profit making organization |
A. Fan factory
B. Sugar industry
C. Hospital
D. Shoe factory
|
| 3 | Debit side of income and expenditur eaccount records. |
A. Expenses and losses
B. Income and gains
C. Assets
D. Liabilities
|
| 4 | The method for preparing the final accounts in trading concerns and non-profit making organizations are |
A. Same
B. Different
C. Easy
D. Difficult
|
| 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 | Income and expenditure accout is usually accompanied by. |
A. Trail balance
B. Balance sheet
C. Income and gains
D. Liabilities
|
| 7 | Income and expenditure account is credited with all. |
A. Expenses
B. Incomes
C. Assets
D. Liabilities
|
| 8 | An income and expenditure account is. |
A. Normal account
B. Real account
C. Persoanl account
D. None of these
|
| 9 | The amount paid to person who was invited to deliver a lecture in a club is known as. |
A. Hoorarium
B. Salary
C. Wages
D. None of these
|
| 10 | The main sources of income of for on -trading concern is. |
A. Subscriptions
B. Donations
C. Sales
D. Dividends on investment
|
Test Questions