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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
On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to.
Question # 2
Depreciation is charged on.
Question # 3
When a new partner is admitted with out the consent of the old partner.
Question # 4
Profit of revaluation should be credited to.
Question # 5
The joint stock company is formed under companies ordiance.
Question # 6
Gaining ratios are equal to.
Question # 7
The extra amount charged fromt he new partner over and above the capital is for.
Question # 8
The partnership may come to an end due to the
Question # 9
Del-credere commission is allowed to cover.
Question # 10
Under annuity method the amount of depreciation is.
Question # 11
the activities of non -trading concern are managed by the.
Question # 12
Due to fresh capital introduced during the year, the closing capital will,
Question # 13
Under single entry system sometimes,
Question # 14
If the cash sales are missing they are to be ascertained by the construction of.
Question # 15
Closing capital in single entry system is calculated by preparing,
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 | Dell creder commission is calculated on. |
A. Total sales
B. Cash sales
C. Credit sales
D. None of these
|
| 2 | The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are. |
A. Normal losses
B. Additional loss
C. Abnormal losses
D. Both abnormal and normal loss
|
| 3 | the loss whihc arises due to natural causes such as evaporation etc is called. |
A. Abnormal loss
B. Normal loss
C. Additional loss
D. None of these
|
| 4 | The end or termination of partnership is called. |
A. Amalgamation
B. Dissolution
C. Retirement
D. Admission
|
| 5 | The profit on the revaluation of the assets and liabilities o the retirement of the partner should be credited to. |
A. All partners capital accounts
B. Only retiring partners capitals accounts
C. Remaiingng partners capital account
D. None of these
|
| 6 | Income and expenditure account records the transactions of |
A. Revenue nature
B. Capital nature
C. Revenue and capital nature
D. None of the these
|
| 7 | To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare, |
A. Balance sheet
B. Trading account
C. Trial balance
D. Statement of affairs
|
| 8 | In case of dissolution, assets sold for cash are debited to |
A. Realization account
B. Cash account
C. Assets account
D. None of these
|
| 9 | The joint stock company is formed under companies ordiance. |
A. 1984
B. 1974
C. 1884
D. 1962
|
| 10 | The maximum number of member in case of public limited company can be |
A. Forty
B. Fifty
C. Sixty
D. No restriction on maximum number
|
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