Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
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
-
Total Questions15
-
Time Allowed20
Principles of Accounting Icom Part 2 English Medium Online Test
00:00
Question # 1
A prospectus for subscription of shares can be issued only by.
Question # 2
The charter of the company containing the objects of whihc for company is being formed is called.
Question # 3
Closing capital in single entry system is calculated by preparing,
Question # 4
Consignment signifies.
Question # 5
The opening and closing balance of bills Receivable can be calculated by preparing the.
Question # 6
In the books of consignor, the loss on the consignment should be crediterd to.
Question # 7
Profit of revaluation should be credited to.
Question # 8
Partnership is formed under the act of.
Question # 9
Joint life policy account after the maturity of the policy shoul dbe transferred to the capital accounts of the partners in.
Question # 10
The powers of company are governed by the.
Question # 11
If any partner takes over any asset at the time of dissolution then it should be debited to.
Question # 12
When a firm dissolved with the consent of all the partners it is called.
Question # 13
If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as.
Question # 14
How many methods are available to calculate the profit or loss under single entry system,
Question # 15
Capital fun of non trading concern is equal 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 |
Top Scorers of Principles of Accounting Icom Part 2 English Medium Online Test
-
R Rtyeq Rfff 01 - Nov - 2024 00 Min 37 Sec 15/15 -
F Fazilat Official 10 - Dec - 2025 01 Min 42 Sec 15/15 -
S Sadia6560 Noman 07 - Dec - 2025 03 Min 42 Sec 14/15 -
M Manahil Arfan- 338 25 - Jun - 2026 03 Min 08 Sec 12/15 -
S Sehar Rajput 04 - Jun - 2026 01 Min 04 Sec 11/15 -
L laiba shafiq 13 - Jul - 2024 03 Min 52 Sec 11/15 -
A Alladeen 03 - Aug - 2024 04 Min 16 Sec 11/15 -
A Ahsan Ali 13 - Dec - 2024 04 Min 58 Sec 11/15 -
H Haris 152 11 - May - 2026 02 Min 31 Sec 10/15 -
M Maryam Nazar 22 - Apr - 2026 05 Min 08 Sec 10/15 -
M M.Tayyab Amin 28 - May - 2026 10 Min 29 Sec 10/15 -
Z zain khan 06 - Mar - 2026 02 Min 22 Sec 9/15 -
H HACKER BOSS 02 - Jun - 2026 02 Min 56 Sec 9/15 -
M Moazzam Bhatti 21 - Apr - 2026 03 Min 24 Sec 9/15 -
A Ali Saab 27 - Sep - 2024 08 Min 17 Sec 9/15
ICom Part II Principles of Accounting Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Consignment signifies. |
A. Goods despatched by the owner to his agent
B. Goods forwarded by the creditor to his debtor
C. Goods forwarded from one place to another
D. Goods sent by the owner to his agent for the purpose of sale.
|
| 2 | When a firm dissolved with the consent of all the partners it is called. |
A. Dissolution by notice
B. Dissolution by agreement
C. Dissolution by court
D. Compulsory dissolution
|
| 3 | Income and expenditure account is credited with all. |
A. Expenses
B. Incomes
C. Assets
D. Liabilities
|
| 4 | A situtation where a company receives a application for a less number of shares than offered to the public for subscription is termed as. |
A. Under subscription
B. Over subscription
C. General subscription
D. Above subscription
|
| 5 | The gradual decrease in the value of the fixex assets due to its use in the business is called. |
A. Depreciation
B. Depletion
C. Amorization
D. Fluctuation
|
| 6 | Excess of assets over liabilities is an indication of. |
A. Solvency
B. Insolvency
C. Deficiency
D. Loss
|
| 7 | A company comes into existence when the registrar issue the |
A. Prospectus
B. Certificate of incorporation
C. statement in Lieu of prospectus
D. Companies ordinance
|
| 8 | It is prepared by non-profit making organizations to determine surplus or deficit |
A. Trading account
B. Profit and loss account
C. Receipts and payments account
D. Income and expenditure account
|
| 9 | Receipt and payment account is prepared at the. |
A. Start of the year
B. End of the year
C. Mid of the financeial year
D. None of these
|
| 10 | Income and expenditure account is equivalent to the. |
A. Receipt and payment account
B. Balance sheet
C. Cash book
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