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Online Tests
Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
The powers of company are governed by the.
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Sharehoders
Memorandum of association
Prospectus
Articles of association
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Question # 2
A situation where a company receives application for a less number of shares than offered to the public for subscription is termed as.
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Oversubscription
Under subscription
No subscription
None of these
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Question # 3
The consignee acts entirely on behalf of the
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Debtors
Creditors
Customer
Principal or consignor
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Question # 4
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 # 5
The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.
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Partnership deed
Aribtrartio clause
Partnership at will
None of these
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Question # 6
The loss prior to the date of incorporation of a company is.
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Revenue loss
Capital loss
Liability
None of these
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Question # 7
In single entry system real accounts are not maintained so the preparation of,
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Correctly
Effectively
Wrongly
Approximately
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Question # 8
Debit side of income and expenditur eaccount records.
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Expenses and losses
Income and gains
Assets
Liabilities
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Question # 9
Maximum numebr of the partners in an ordinary Partinership.
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Ten partners
Twentry partners
Thirty partners
Fourth partners
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Question # 10
A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as.
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Oversubscription
Udner subscription
No subscripition
None of these
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Question # 11
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 # 12
If all the partners but one is solvent it is.
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Compulsory dissolution of firm
Dissolution by agreement
Or may not cause dissolution
None of these
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Question # 13
The depreciation charged to motor car account will be debited to.
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Depreciation account
Motor car account
Cash account
None of these
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Question # 14
The excess of total assets over total liabilituies of a concern is called.
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Surplus
Deficit
Capital fund
Profit
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Question # 15
The opening capitla is ascertained by preparing.
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Cash account
Opening statements of affairs
Total debtors account
Total creditors account
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Question # 16
The dividend paid to the shareeholders duirng the financial year is.
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Redeemable debentures
Irredeemable debentures
Repayable debebtures
None of these
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