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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
Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.
Question # 2
The debentures which are repayable at the end of a specified period are termed as.
Question # 3
Current accout of the partners should be opened when the capitals are.
Question # 4
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 5
To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,
Question # 6
Single entry system is generally adopted by,
Question # 7
A certificat issue by the company under its seal acknowledging a debt due by it to its holder, is called.
Question # 8
The maximum number of member in case of public limited company can be
Question # 9
Depreciation is charged at fixex rate on the reducing balance, under the.
Question # 10
Ordinary shares are also known as.
Question # 11
Purchase of sports material for the club should be treated as.
Question # 12
A person who is elected to run the club
Question # 13
In case of private company minimum numebr of sharaeholders are.
Question # 14
Teh single entry system of book keeping is generay followed by
Question # 15
the activities of non -trading concern are managed by the.
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 | North worth of an organizaton means the excess of its total assets over total. |
A. Liabilities
B. Income
C. Expenses
D. None of the above
|
| 2 | 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
|
| 3 | The amount charged to depreciation goes on declining in. |
A. Diminishing balance method
B. Fixex instaliment method
C. Annuity method
D. Depreciation fund method
|
| 4 | The fingure of bills payable is worked out by preparing the. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
|
| 5 | The main sources of income of for on -trading concern is. |
A. Subscriptions
B. Donations
C. Sales
D. Dividends on investment
|
| 6 | Income and expenditure accout is usually accompanied by. |
A. Trail balance
B. Balance sheet
C. Income and gains
D. Liabilities
|
| 7 | In non-profit making organization final accounts contains |
A. Income and expenditure account and balance sheet
B. Receipts and payments account and balance sheet
C. Receipts and payments account and statement of affairs
D. Profit and loss account and balance sheet
|
| 8 | The part of the issued capital which has been taken up or subscribed by the public is called |
A. Issued capital
B. Authorized capital
C. Subscribed capital
D. Paid up capital
|
| 9 | A partner goes out of a firm due to certain event or reason is known as. |
A. Retired or out going partner
B. Junior partner
C. Senior partner
D. Minor partner
|
| 10 | The dividend paid to the shareeholders duirng the financial year is. |
A. Redeemable debentures
B. Irredeemable debentures
C. Repayable debebtures
D. None of these
|
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