11th class Principles of Accounting chapter 10 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 10(Adjustment and Their Effects on Final Accounts)

Principles of accounting Icom Part 1 English Medium Chapter 10 Online Test

Sr. #	Questions	Answers Choice
1	A gradual decrease in the value of fixed assets is called	Reduction Revaluation Deprecation None of these
2	Outstanding expense given in adjustment is called	An asset A gain An expense A liability
3	The accrued income or outstanding income will appear in the balance sheet as	An expense A liability An asset Both a & b
4	A prepaid expense is	An asset A liability An expense An income
5	The revenue that has not become due, but received in cash in current year is known as	Revenue received in advance Accrued revenue Unearned revenue Both a & c
6	An income which has earned but not received is called	Unearned income Accrued revenue Revenue received in advance None of these
7	All those expenses which have not become due but paid in advance are called	Accrued expenses Outstanding expenses Prepaid expenses Payable expenses
8	The accounting system in which accounting entries are made on the basis of amount having become due for payment or receipt, is called	Cash system Accrual or mercantile system Outstanding system None of these
9	All those expenses which have become due but not paid are called	Accrued revenue Prapaid revenue Outstanding expenses Advance expenses
10	The system of accounting in which accounting entries are made only when cash received or paid is known as	Cash system Accrual system Mercantile system Single system