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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.
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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
Under diminhing balance method, depreciationis calculated on.
Question # 2
At the end of the year non trading institutions prepare.
Question # 3
The objective of charging depreciation on fixed assets is.
Question # 4
The unsold stock is valued at
Question # 5
The dividend paid to the shareholders during the finaincial year is.
Question # 6
General reserve at the time of admission of anew partner is credited.
Question # 7
The amount of share capital with which a company is registered is called.
Question # 8
The joint stock company is formed under companies ordiance.
Question # 9
A paartner who have a major investment in the firm and receive a relatively more profit is called.
Question # 10
Reliization account is opened to find out gain or loss at the time of.
Question # 11
The dividend paid to the shareeholders duirng the financial year is.
Question # 12
In single entry system,
Question # 13
The liability of the shareholder of a public limited company is.
Question # 14
Which of the following method is suitable for charging depreciation an machinery and furniture.
Question # 15
In the books of consignor, the loss on the consignment should be crediterd 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 | Profit on revalutin is to be caredited to old partners in their |
A. Sacrificing ratio
B. New profit shiaring ratio
C. Old prift sharing ratio
D. Equal prift sharing ratio
|
| 2 | 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
|
| 3 | Cash received from the debtors can be find out by preparing. |
A. Debtors account
B. Creditors account
C. Balance sheet
D. Trial balance
|
| 4 | The basic club record or book of original entry in non-profit making organization |
A. Purchase book
B. Sales book
C. Cash book
D. "a" and "b"
|
| 5 | In income and expenditure account |
A. Expense are recorded on debit side
B. Revenues are recorded on credit side
C. Does not start with any opening balance
D. All of the above
|
| 6 | The income and expenditure account begins with. |
A. Opening debit balance
B. Opening credit balance
C. Opening balance
D. None of these
|
| 7 | The which is calculated at the time of retirment of partner is |
A. Gaining ratio
B. Serching ratio
C. Capita ratio
D. New ratio
|
| 8 | The shares of public limited company are. |
A. Not refundable
B. Not tanserable
C. Transferable
D. No allotable
|
| 9 | The company formed by teh means of Royal Charter is called. |
A. Public limited company
B. Private limited company
C. Charterd company
D. Registered company
|
| 10 | The account of non trading concern are generally maintained according to. |
A. Mereantile accounging system
B. Double entry system of book keeping
C. Cash accounting system
D. None of the above
|
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