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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 expenditur eaccount is prepared at the
Question # 2
Lagacies are generally treated as.
Question # 3
The account of non trading concern are generally maintained according to.
Question # 4
Receipts and payments account records the transactions of
Question # 5
Income and expenditur eaccount is prepared on.
Question # 6
If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as.
Question # 7
It is prepared by non-profit making organizations to determine surplus or deficit
Question # 8
Excess of liablilities over assets is an indication of .
Question # 9
The amount paid to person who was invited to deliver a lecture in a club is known as.
Question # 10
Capital is obtained by deductin liabiliities from.
Question # 11
Subscription Received in advance is.
Question # 12
Example of non-profit making organization
Question # 13
The excess of total assets over total liabilituies of a concern is called.
Question # 14
Income and expenditure account is debited with all.
Question # 15
Non-profit making organizations
ICOM Part 2 English Medium Principles of Accounting Chapter 2 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test" MCQ`s Test
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O Omisha Roy 29 - Apr - 2024 00 Min 55 Sec 15/15 -
F Fazilat Official 05 - Dec - 2025 01 Min 46 Sec 14/15 -
Z Zainab Malik 02 - Jun - 2026 02 Min 42 Sec 14/15 -
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M Malaika MA 03 - Aug - 2024 01 Min 30 Sec 13/15 -
Z Zafar Ali 07 - Jun - 2024 00 Min 17 Sec 11/15 -
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A Ahmad Daar 02 - Apr - 2024 01 Min 11 Sec 10/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Receipts and payments account records transaction relating to |
A. Past year
B. Future year
C. Present year
D. All of the above
|
| 2 | If the credit side of the income oand expenditur eaccount is greater it is termed as. |
A. Deficit
B. Surplus
C. Asset
D. Liability
|
| 3 | In non-profit making organization final accounts contains |
A. Income and expenditure account and balance sheet
B. Receipts and payments account and balance sheet
C. Receipts and payments account and statement of affairs
D. Profit and loss account and balance sheet
|
| 4 | The account of non trading concern are generally maintained according to. |
A. Mereantile accounging system
B. Double entry system of book keeping
C. Cash accounting system
D. None of the above
|
| 5 | The income and expenditure account performs the same function as. |
A. Trading and profit and loss account
B. Manafactureng account
C. Balance sheet
D. None of these
|
| 6 | Income and expenditure account is debited with all. |
A. Expenses
B. Incomes
C. Liabilities
D. Assets
|
| 7 | Non-profit making organization is also known as |
A. Non-profit seeking concern
B. Non-trading concern
C. Trading concern
D. "a" and "b"
|
| 8 | Subcription received during the current year is. |
A. An income
B. An expenditure
C. An asset
D. An liability.
|
| 9 | Subscription otstanding in the beginning are shown in the |
A. Trading account
B. Income and expenditure account
C. Balance sheet
D. Profit and loss account
|
| 10 | Non-profit seeking organizations prepare |
A. Manufacturing account
B. Trading account
C. Income and expenditure account
D. Profit and loss account
|
Test Questions
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