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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
The persons who have entered in partnership are collctive called.
Question # 2
Profit and loss on revalution at the time of retirement must be transerred to the partners in.
Question # 3
Partnership is formed by the partners.
Question # 4
Donation receivedin heavy amount are treated as.
Question # 5
The income and expenditure account performs the same function as.
Question # 6
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 # 7
Income and expenditure account shows.
Question # 8
Depreciation is charged on.
Question # 9
The debentures which are payable to bearere, are termed as.
Question # 10
Goods sent on consignment should be debited int he books of the consignor.
Question # 11
If the credit side of the income oand expenditur eaccount is greater it is termed as.
Question # 12
The income and expenditure account begins with.
Question # 13
Subscription otstanding in the beginning are shown in the
Question # 14
The assets which have not got physical existence are called.
Question # 15
The dividend paid to the shareeholders duirng the financial year 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 | The gaining ratio are calculated on. |
A. Admissionof a partner
B. Death of a partner
C. Retirement of a partner
D. None of these
|
| 2 | Under single entry system sometimes, |
A. Double aspects of a transaction are recorded
B. Single aspect of a transaction is recorded
C. No aspect of a transaction is recorded
D. All of the above
|
| 3 | The owner of the partnership are called as. |
A. Member
B. Partners
C. Share holder
D. None of these
|
| 4 | In the books of consignor, the loss on the consignment should be crediterd to. |
A. Consignment account
B. Consigneee 's account
C. Profit and loss account
D. Gppds sent on consignemnt
|
| 5 | Equity share holders are. |
A. Creditors
B. Owners
C. Customers of the company
D. Debtors of the company
|
| 6 | Which of the following method is suitable for charging depreciation an machinery and furniture. |
A. Straight line method
B. Diminishing balance method
C. Depreciation on fixed method
D. Annuity method
|
| 7 | When a new partner is admitted with out the consent of the old partner. |
A. Partnership will be dissolved
B. Will value
C. Agreed value
D. None of these
|
| 8 | Net worth is equal to, |
A. Assets - Liabilities
B. Liabilities - Assets
C. Liabilities + Capital
D. Capital + Assets
|
| 9 | Debenture holders are. |
A. Creditors
B. Owners
C. Customers of the company
D. Debtors
|
| 10 | We cannot prepare the trial balance and precise balance sheet under, |
A. Single entry system
B. Double entry system
C. "a" and "b"
D. Barter system
|
ICOM Part 2 English Medium Principles of Accounting Test
Test Questions