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Online Tests
Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
The debentures which does not carry any charges o the assets of the company.
Choose an answer
Simple debentures
Mortagage debentures
Redeemable debentures
None of these
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Question # 2
Capital fun of non trading concern is equal to.
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Assets + Income
Assets + Liabilities
Expenditure + Liabilities.
Assets - Liabilities
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Question # 3
The rules and regulation foverning the internal management and administration of the company are called.
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Memorandum of assocaition
Articles of association
Prospectus
None of these
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Question # 4
Under annuity method the amount of depreciation is.
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Increasing every year
Decreasing every year
Fixed for all the year
None of these
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Question # 5
Debenture holders are.
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Creditors
Owners
Customers of the company
Debtors
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Question # 6
Under single entry system sometimes,
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Double aspects of a transaction are recorded
Single aspect of a transaction is recorded
No aspect of a transaction is recorded
All of the above
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Question # 7
Cash book is prepared to find out the figure of.
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Opening capital
Crosing cash balance
Net profit
Finaincial position
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Question # 8
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
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Bonus
Commission
Del creder commision
Credit commission
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Question # 9
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 # 10
In case of banking business, the numerb of persons must not exceed.
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Ten (10)
Twenty (20)
Tweinty five(25)
Fifty (50)
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Question # 11
The profit on revaluation of assts and liabilities on the retirement of the partners should be credited to the capital account of.
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All the partners
Retiring partner
Remaining partner
None of these
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Question # 12
A partner goes out of a firm due to certain event or reason is known as.
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Retired or out going partner
Junior partner
Senior partner
Minor partner
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Question # 13
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 # 14
Depreciation is
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An Income
An expense
A loss
A liability
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Question # 15
In receipt and payments account
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No narration is written
No ledger reference is recorded
Daily cash balance cannot be ascertained
All of the above
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Question # 16
If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as.
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Surplus
Deficit
Assets
Liabilities
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