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Online Tests
Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
Arithmetical accuracy of the books of accounts cannot be checked under.
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Single Entry system
Double entery system
None entery system
Both a and b
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Question # 2
If the cash sales are missing they are to be ascertained by the construction of.
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Debtors account
Creditors account
Cash account
None of these
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Question # 3
Income and expenditure accout is usually accompanied by.
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Trail balance
Balance sheet
Income and gains
Liabilities
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Question # 4
The company formed by teh means of Royal Charter is called.
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Public limited company
Private limited company
Charterd company
Registered company
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Question # 5
A statement of assets and liabilities is prepared under the single entery system is called.
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Balance sheet
Financial statement
Statement of affair
Cash transaction
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Question # 6
Amount due to the deceased partner is generally transferred to
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Executor's loan
Profit and loss accounts
Capital account
None of thess
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Question # 7
The process of writing of intengible assets patent right, good will etc is called.
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Depreciation
Fluctuaton
Amorization
depletion
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Question # 8
Amount received by the concern as per the will of the donor is known as.
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Lagacy
Donation
Subscription
None of these
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Question # 9
The abnormal loss on consignemnt is credited to.
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Consignment account
Consignment personal account
Profit and loss account
Goods sent on consignemnt account
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Question # 10
Income and expenditure account is debited with all.
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Expenses
Incomes
Liabilities
Assets
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Question # 11
In the books of consignor on reciving advance in cash from consignee should be debited to.
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Cash account
Consignee account
Consignment account
None of these
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Question # 12
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
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Cash account
Consignee personal account
Consignment account
None of the above
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Question # 13
Subscription otstanding in the beginning are shown in the
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Trading account
Income and expenditure account
Balance sheet
Profit and loss account
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Question # 14
Debenture holders are.
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Creditors
Owners
Customers of the company
Debtors
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Question # 15
The amount of good will broght in cash by nw partner will be credited to old partner in.
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Gaining Ratio
New Ratio
Old Ratio
Sacrifice Ratio
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Question # 16
The amount of share capital with which a company is registered is called.
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Authorized capital
Issued capital
Paid up capital
Called up capital
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