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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
Consignee is.
Question # 2
The unsold stock is valued at
Question # 3
Depreciation written off on fixed assets should be recorded in the.
Question # 4
The balance of revaluation accoun tis transferred to the old partners capital accounts in their.
Question # 5
In case of dissolution, assets sold for cash are debited to.
Question # 6
the activities of non -trading concern are managed by the.
Question # 7
General reserve at the time of admission of anew partner is credited.
Question # 8
Amount of to the out going partner is shown in the balance sheet as his.
Question # 9
The basic club record or book of original entry in non-profit making organization
Question # 10
We cannot prepare the trial balance and precise balance sheet under,
Question # 11
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 12
A prospectus for subscription of shares can be issued only by.
Question # 13
The dividend paid to the shareholders during the finaincial year is.
Question # 14
An income and expenditure account is.
Question # 15
The main sources of income of for on -trading concern 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 amount charged as depreciation goes on declining in |
A. Depletion fund method
B. Auunity method
C. Diminishing balance method
D. Straiight line method
|
| 2 | Due to drawings made during the year, the closing capital will, |
A. Increase
B. Decrease
C. Constant
D. Multiply
|
| 3 | Depreciation caused by some external amoutn of anual depreciation gradully. |
A. Increase
B. Decrease
C. Remain constant
D. None of these
|
| 4 | As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of. |
A. Realization loss
B. Profit ratio
C. Capital ratio
D. None of these
|
| 5 | How many mathods are available to calculate the profit or loss under single entery system. |
A. One
B. Two
C. Three
D. Four
|
| 6 | The Receipt and payment account is the summery of the |
A. Cash book
B. Balance sheet
C. Trqail balance
D. Proft and loss account
|
| 7 | In receipt and payments account |
A. No narration is written
B. No ledger reference is recorded
C. Daily cash balance cannot be ascertained
D. All of the above
|
| 8 | In increased net worth method, profit or loss is calculated by preparing, |
A. Income and expenditure account
B. Profit and loss account
C. Statement of profit or loss
D. Balance sheet
|
| 9 | An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called. |
A. Bonus
B. Commission
C. Del creder commision
D. Credit commission
|
| 10 | Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's |
A. Trading and profit and loss account
B. Balance sheet
C. Bank account
D. Petty cash book
|
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