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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
Arithmetical accuracy of the books of accounts cannot be checked under.
Question # 2
The method is specially suited to natural surces is said to be
Question # 3
Registered company is
Question # 4
Bad debt written off always affect the
Question # 5
The asses which have physical existence are called.
Question # 6
Partnership is formed under the act of.
Question # 7
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Question # 8
To make provision for the replacement of the assets. the method is to be ysed is.
Question # 9
The extra amount charged fromt he new partner over and above the capital is for.
Question # 10
The powers of company are governed by the.
Question # 11
Good will is
Question # 12
Excess of liablilities over assets is an indication of .
Question # 13
Share capital int he balance sheet is known as.
Question # 14
Joint stock company is an Artificaial person created by
Question # 15
The Decision in Garner Va. Murray was given 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 | The powers of company are governed by the. |
A. Sharehoders
B. Memorandum of association
C. Prospectus
D. Articles of association
|
| 2 | Bills payable issued durint the period must be debited to total creditors account credited to. |
A. Bills payable account
B. Bills receivable account
C. Debtora account
D. Cash account
|
| 3 | In case of private company minimum numebr of sharaeholders are. |
A. Six
B. Seven
C. Ten
D. Two
|
| 4 | The fingure of bills payable is worked out by preparing the. |
A. Total debtors account
B. Total creditors account
C. Cash book
D. Balance sheet
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| 5 | Account salesis submitted by. |
A. Teh consignor to the consignee
B. The consignee to the consignor
C. the debtor to the creditors
D. The principle to his agent
|
| 6 | Interest on dividend is paid. |
A. At the end of financial period
B. During the fiancancial year
C. At the time of incorporation
D. At the time of winding of company
|
| 7 | 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
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| 8 | A person who is elected to run the club |
A. Treasurer
B. Secretary
C. Chairperson
D. President
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| 9 | The which is calculated at the time of retirment of partner is |
A. Gaining ratio
B. Serching ratio
C. Capita ratio
D. New ratio
|
| 10 | The investment in partners capital accounts is to be credited to. |
A. Partners capital accounts
B. Profit and loss account
C. Interest account
D. None of these
|
ICOM Part 2 English Medium Principles of Accounting Test
Test Questions