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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
The liability of the shareholder of a public limited company is.
Question # 2
Dell creder commission is calculated on.
Question # 3
Cash received from the debtors can be find out by preparing.
Question # 4
All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to
Question # 5
Net worth is equal to,
Question # 6
A situation where a company receives application for a less number of shares than offered to the public for subscription is termed as.
Question # 7
Purchase of sports material for the club should be treated as.
Question # 8
Receipts and payments accounts records transaction relating to.
Question # 9
If some proparty is owned jointly with out any attention to carry on a business it is called.
Question # 10
The consignment outward books or journal is maintained by.
Question # 11
Consignment account is in the nature of.
Question # 12
Profit on revalutin is to be caredited to old partners in their
Question # 13
When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.
Question # 14
In case of retirement the amount of the general reserve any other profit is credited to all partners in.
Question # 15
The amount charged to depreciation goes on declining in.
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 | A person who is elected to run the club |
A. Treasurer
B. Secretary
C. Chairperson
D. President
|
| 2 | The figure of the bills receivable can be worked out from. |
A. Total debtors account
B. Total creditors account
C. Trail balance
D. Balance sheet
|
| 3 | Depreciation is charged on. |
A. Fixed tangible assets only
B. Fixex intangible assets only
C. Current assets only
D. None of these
|
| 4 | The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called. |
A. Sales account
B. Performa invoice
C. Account sales
D. None of these
|
| 5 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 6 | Partnership is formed by the partners. |
A. Written agreement
B. Mutual consent
C. Verbal agreement
D. None of these
|
| 7 | When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to. |
A. Cash account
B. Consignor 's personal account
C. Consignment account
D. None of these
|
| 8 | Under the diminishing balance method the depreciationis calculated on . |
A. Book value
B. Original value
C. Residual value
D. None of these
|
| 9 | Current accoujts of the partners should be opened when the capital are. |
A. Fixed
B. Fluctuating
C. Either fixed or fluctuating
D. None of these
|
| 10 | Subscription otstanding in the beginning are shown in the |
A. Trading account
B. Income and expenditure account
C. Balance sheet
D. Profit and loss account
|
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