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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
The method for preparing the final accounts in trading concerns and non-profit making organizations are
Question # 2
Receipt and payment account is prepared at the.
Question # 3
In cash book
Question # 4
The main sources of income of for on -trading concern is.
Question # 5
Capital is obtained by deductin liabiliities from.
Question # 6
The amount paid to person who was invited to deliver a lecture in a club is known as.
Question # 7
Subcription received during the current year is.
Question # 8
A person who is elected to run the club
Question # 9
Income and expenditure account is equivalent to the.
Question # 10
Admission fee income should be.
Question # 11
Receipts and payments account records the transactions of
Question # 12
Receipt and payment account includes.
Question # 13
The income and expenditure account performs the same function as.
Question # 14
Income and expenditure account is credited with all.
Question # 15
The Receipt and payment account is the summery of the
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 | Credit side of iincome and expenditure account records. |
A. Expenses and losses
B. Income and gains
C. Assets
D. Liabilities
|
| 2 | It is prepared by non-profit making organizations to determine surplus or deficit |
A. Trading account
B. Profit and loss account
C. Receipts and payments account
D. Income and expenditure account
|
| 3 | 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
|
| 4 | Capital is obtained by deductin liabiliities from. |
A. Expenditures
B. Receipt
C. Assets
D. Incomes
|
| 5 | Admission fee income should be. |
A. Treated as income
B. Capitalized
C. Proportionate to revenue and capitalized
D. None of these
|
| 6 | The excess of total assets over total liabilituies of a concern is called. |
A. Surplus
B. Deficit
C. Capital fund
D. Profit
|
| 7 | The Receipt and payment account is the summery of the |
A. Cash book
B. Balance sheet
C. Trqail balance
D. Proft and loss account
|
| 8 | A person who is elected to run the club |
A. Treasurer
B. Secretary
C. Chairperson
D. President
|
| 9 | Income and expenditure account shows |
A. Cash in hand
B. Surplus or deficit
C. Cash at bank
D. Capital 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