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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
In the absence of any agreement Reserve on dissolution of a partnership firm is credited to the partners.
Question # 2
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 3
Depreciation fund method is also known as.
Question # 4
On the addimissionof a new partner the increase int he value of assets is debited
Question # 5
The face value of the share is also known as.
Question # 6
Interest is debited to assets account uder the.
Question # 7
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.
Question # 8
Single entery system is most suitbale where
Question # 9
To calculate the true net profit or net loss in single entry system it is necessary that the amount of fresh capital should be subtracted from,
Question # 10
Current accoujts of the partners should be opened when the capital are.
Question # 11
The debentures which are payable to bearere, are termed as.
Question # 12
Income and expenditure account shows.
Question # 13
Investment in partnership is made byintroducing.
Question # 14
When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called.
Question # 15
Liability of the partners in partnership is.
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 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 2 | Income and expenditure account is credited with all. |
A. Expenses
B. Incomes
C. Assets
D. Liabilities
|
| 3 | In single entrey system statements of assets and liabilities is called. |
A. Balance sheet
B. Statement of Affair
C. Trial balance
D. Income statement
|
| 4 | The end or termination of partnership is called. |
A. Amalgamation
B. Dissolution
C. Retirement
D. Admission
|
| 5 | Lagacies are generally treated as. |
A. Income
B. Capitalized
C. Assets
D. Liability
|
| 6 | The income and expenditure account begins with. |
A. Opening debit balance
B. Opening credit balance
C. Opening balance
D. None of these
|
| 7 | 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
|
| 8 | Due to fresh capital introduced during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 9 | The face value of the share is also known as. |
A. Book value
B. Par value
C. Market value
D. None of these
|
| 10 | Teh single entry system of book keeping is generay followed by |
A. Small business concern
B. Large Business concern
C. Non trading concern
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