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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
Not worth method is equal to.
Question # 2
A paartner who have a major investment in the firm and receive a relatively more profit is called.
Question # 3
The fingure of bills payable is worked out by preparing the.
Question # 4
As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of.
Question # 5
In appearance, the statement of affairs, is similar to a.
Question # 6
The rules and regulation foverning the internal management and administration of the company are called.
Question # 7
In the books of consignor, the loss on the consignment should be crediterd to.
Question # 8
Joint stock company is an Artificaial person created by
Question # 9
A person who is elected to run the club
Question # 10
Generatal reserve at the time of dissolution is transferred to
Question # 11
Interest is debited to assets account uder the.
Question # 12
In case of retirement the amount of the general reserve any other profit is credited to all partners in.
Question # 13
The balance of revalution account is transferred to the capital accounts of the partners in.
Question # 14
Cash paid to creditors can be woked out from.
Question # 15
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
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 | Income and expenditure account is debited with all. |
A. Expenses
B. Incomes
C. Liabilities
D. Assets
|
| 2 | A statement of assets and liabilities is prepared under the single entery system is called. |
A. Balance sheet
B. Financial statement
C. Statement of affair
D. Cash transaction
|
| 3 | In cash of net worth method of sigle entery system net profikt is ascertained by. |
A. Prepareing the trading and profit and account
B. By cimparing the capitals in the beginning and at the end of the accounting period.
C. Capital closing + Drawing - fresh capital - opening capital
D. Capital opening+ Drawing - fresh capital-closing stock
|
| 4 | The abnormal loss on consignemnt is credited to. |
A. Consignment account
B. Consignment personal account
C. Profit and loss account
D. Goods sent on consignemnt account
|
| 5 | Lagacies are generally treated as. |
A. Income
B. Capitalized
C. Assets
D. Liability
|
| 6 | A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as. |
A. Oversubscription
B. Udner subscription
C. No subscripition
D. None of these
|
| 7 | According to companies ordinance, single entry system cannot be adopted by, |
A. Sole proprietorship
B. Partnership
C. "a" and "b"
D. Joint stock companies
|
| 8 | The document which contains the fundamental conditions of incorporation and the obejedcts for which the company was formed is called. |
A. Memorandum of association
B. Article of association
C. Prospectus
D. None of he above
|
| 9 | The method is specially suited to natural surces is said to be |
A. Annuity method
B. Depletion method
C. Revalution method
D. Sum of digit method
|
| 10 | Debit side of income and expenditur eaccount records. |
A. Expenses and losses
B. Income and gains
C. Assets
D. Liabilities
|
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