ICOM Part 2 English Medium Principles of Accounting Chapter 9 MCQ's Test

12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 9 (Partnership Accounts Dissolution of the Firm)

ICOM Part 2 English Medium Principles of Accounting Chapter 9 MCQ's Test

Start Chapter 9 Test

ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 9 (Partnership Accounts Dissolution of the Firm)

Sr. # Questions Answers Choice
1 Under which method the book value of the fixed assets acn be reduce to zero after certain year
  • A. Diminishing balance method
  • B. Straght line method
  • C. Depreciation find fond
  • D. Deflation method
2 Under aunuity method, the annual charger for depreciation wil be debited to.
  • A. Assets account
  • B. Depreciation account
  • C. Interest account
  • D. None of these
3 The objective of charging depreciation on fixed assets is.
  • A. Calculate the true net profit
  • B. To provide funds for the replacement
  • C. To redue the tax libility
  • D. All of the above
4 The value of an asset at the end of the working life is called.
  • A. Book value
  • B. Scrape value
  • C. Market value
  • D. None of these
5 Under annuity method the amount of depreciation is.
  • A. Increasing every year
  • B. Decreasing every year
  • C. Fixed for all the year
  • D. None of these
6 The amount charged as depreciation goes on declining in
  • A. Depletion fund method
  • B. Auunity method
  • C. Diminishing balance method
  • D. Straiight line method
7 Another name of diminishing balance method of depreciation is the
  • A. Reducing balance method
  • B. Sinking fund method
  • C. Straight line mehod
  • D. Revaluation method
8 Depreciation is charged on.
  • A. Fixed tangible assets only
  • B. Fixex intangible assets only
  • C. Current assets only
  • D. None of these
9 Which of the following term is used for the depreciation of wasting assets such as timber tree, mines, oil wells etc.
  • A. Depreciation
  • B. Depletion
  • C. Amortization
  • D. None of these
10 Under the diminishing balance method the depreciationis calculated on .
  • A. Book value
  • B. Original value
  • C. Residual value
  • D. None of these

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test

K

King Anas

Lahore13 - May - 2025

12/15
04 Mins 25 Sec
A

Ali Raza

Lahore13 - Apr - 2025

8/15
03 Mins 50 Sec

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