Question # 1

The relation ship between consignor and consignee is thet of.

Choose an answer

Buyer and seller

Debtorsde creditor

Whole seller or retailer

Principal and agent

The toal amount of capital, in case of company is divided into small units, these units are called.

Choose an answer

Bonds

Cheque

Share

Reserve

In case of retirement of a partners full good will is credited to the account of.

Choose an answer

Only retring partner

Only remaining partners

All partners

None of these

The opening and closing balance of bills Receivable can be calculated by preparing the.

Choose an answer

Total debtors accounts

Total creditors account

Bills Recivable accounts

Salaes accounts

The total amount recived by the company out of the totla called up amount is known as the.

Choose an answer

Called up capital

Paid up capital

Issued capital

Reserve capital

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Choose an answer

Incomplete and unscientific

Complete and scientific

Incompleted and scientific

Complete and unscientific

In case of private company minimum numebr of sharaeholders are.

Choose an answer

Six

Seven

Ten

Two

North worth of an organizaton means the excess of its total assets over total.

Choose an answer

Liabilities

Income

Expenses

None of the above

Teh single entry system of book keeping is generay followed by

Choose an answer

Small business concern

Large Business concern

Non trading concern

None of these

The amount payable to the retiring partner is shown in the balance sheet of partnership as.

Choose an answer

Capital

Loan

Investment

Assets

the term depreciationis used with reference to.

Choose an answer

Tangible assets

Intangible asets

Current assets

Fixed assets

When the goods sent on consignment are sold by the consignee the account to be debited is.

Choose an answer

Cash account

Consignee personal account

Consignment account

None of these

Dividend is calculated on.

Choose an answer

Registered capital

Issue Capital

Paid up Capital

Subscribed Capital

The owner of the partnership are called as.

Choose an answer

Member

Partners

Share holder

None of these

Income and expenditure account is usually accompanied by.

Choose an answer

Trail balance

Balance sheet

Cash book

None of these

The method is specially suited to natural surces is said to be

Choose an answer

Annuity method

Depletion method

Revalution method

Sum of digit method

More Classes

Other Links

Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer