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Principles of accounting are the rules and guidelines to report financial data, the general guidelines and principles, standards and detailed rules, plus industry practices that exist for financial reporting.
Principles of Accounting HSSC part 2, I.Com part 2 objective paper consists of MCQs of 20 marks and it has to be attempted in first 25 minutes. This objective MCQs section is compulsory.
By the end of the year students do not find enough time to write and prepare their papers because of time shortage, ilmkidunya has provided a solution for I.Com part 2 students. ICom part 2 Students can prepare their Principles of Accounting subject on this page by attempting this online MCQs objective paper. I.Com part 2 students can attempt Principles of Accounting objective paper as many times as they want. In this case I.com students will be able to prepare their principles of accounting paper in a better way with complete guidelines.
Ilmkidunya is the largest educational website of Pakistan which contains all up to date data for students of every field of subjects related to schools, colleges and universities. Every field of students can find help for their educational problems here. Ilmkidunya has given a great opportunity to I.Com part 2, HSSC part 2 students to prepare their papers online so that they can perform better in their annual exams. These online papers contain thousands of objective MCQs and by solving these online papers, ICom part 2 students can judge their preparation for annual exams.
Principles of Accounting Icom Part 2 English Medium Online Test
Try The Principles of Accounting Icom Part 2 English Medium Online Test
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Online Test
00:00
Question # 1
Another name of diminishing balance method of depreciation is the
Question # 2
The persons who have entered in partnership are collctive called.
Question # 3
Non-profit making organization is also known as
Question # 4
Under which method the book value of the fixed assets acn be reduce to zero after certain year
Question # 5
In single entry it is not possible to prepare
Question # 6
How many mathods are available to calculate the profit or loss under single entery system.
Question # 7
Cash received from the debtors can be find out by preparing.
Question # 8
Receipts and payments account records transaction relating to
Question # 9
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 10
If the good will raised at the time of retirement of a partner is to be written off, then the capital accounts of the remaiing partners are debited in.
Question # 11
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 12
Lagacies are generally treated as.
Question # 13
Depreciation caused by some external amoutn of anual depreciation gradully.
Question # 14
Accured subscripttion represents.
Question # 15
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Here is List Of Chapter Wise Tests
| Ch. # | Test Name | MCQs Available | PDF File | Launch Test |
|---|---|---|---|---|
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test | 53 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test | 67 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test | 40 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test | 30 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test | 20 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 6 Online Test | 21 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 7 Online Test | 23 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 8 Online Test | 60 | Download PDF | Launch Test |
| 0 | Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test | 31 | Download PDF | Launch Test |
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ICom Part II Principles of Accounting Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Closing capital in single entry system is calculated by preparing, |
A. Opening statement of affairs
B. Closing statement of affairs
C. Opening balance sheet
D. Closing balance sheet
|
| 2 | Under the straight line method of charging depreciation, the amount of deperciation . |
A. Decrease every year
B. Increase every year
C.
Remain constant every year
D. None of the above
|
| 3 | The Closing Capital is worked out by preparing the. |
A. Opening statement of affair
B. Closing statement of affiar
C. Cash book
D. Balance sheet
|
| 4 | To make provision for the replacement of the assets. the method is to be ysed is. |
A. Written down value method
B. Annuity method
C. Sinking fund method
D. Insurance policy method
|
| 5 | A person who purchases the share of the company becomes its. |
A. Share holder
B. Debenture holder
C. Under writer
D. Promoter
|
| 6 | The Receipt and payment account is the summery of the |
A. Cash book
B. Balance sheet
C. Trqail balance
D. Proft and loss account
|
| 7 | Registered company is |
A. 2
B. 3
C. 4
D. 5
|
| 8 | Excess of liablilities over assets is an indication of . |
A. Solvency
B. Insolvency
C. Surplus
D. Profit
|
| 9 | The toal amount of capital, in case of company is divided into small units, these units are called. |
A. Bonds
B. Cheque
C. Share
D. Reserve
|
| 10 | The joint stock company is formed under companies ordiance. |
A. 1984
B. 1974
C. 1884
D. 1962
|
ICOM Part 2 English Medium Principles of Accounting Test
Test Questions
Share your comments & questions here
Konain
23 Mar 2019yahn p MCQs ky ilawa subjective k test nhi hota plz help me
ZaiN AwaN
07 Apr 201815/14
Abdul Rehman
02 Feb 2018moja kuch bi nhi ata plz i request you k moja sb smjaa da sir plz plz mein kaam krta hun jis ki wjja sa mein study ko time nhi da skka plzz help me
Abdul Rehman
02 Feb 2018plz help me
raja toseef
16 Nov 2017sir mujy princepal of accounting icom part ll k chapter numbar 25 depression ki problims karwa dain ap ki bhot mahrbani ho ge plzzzzzzz