ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

ICOM Part 1 Principles of Accounting English Medium Chapter 11 MCQ's Test

Start Chapter 11 Test

First Year Principles of Accounting Chapter 11 Online MCQ Test for 1st Year Principles of Accounting Chapter 11 (Work Sheet)

Sr. # Questions Answers Choice
1 In the preparation of worksheet the amounts in the trail balance are taken directly form the ______
  • A. Ledger
  • B. Trail balance
  • C. Balance sheet
  • D. None of these
2 A sheet which minimizes the chances of errors to the maximum possible extent is called
  • A. Balance sheet
  • B. Work sheet
  • C. Paper sheet
  • D. Income statement
3 Which one of the following in used to simplify work, to be done at the end of period
  • A. Balance sheet
  • B. Income sheet
  • C. Bank statement
  • D. Work sheet
4 Expired cost of fixed assets means
  • A. Appreciation
  • B. Amortization
  • C. Depreciation
  • D. None of these
5 Adjusting entries affect
  • A. Balance sheet
  • B. Income statement
  • C. Work sheet
  • D. All of them
6 ______ simplifies work to be done at the end of the period
  • A. Work sheet
  • B. Ledger
  • C. Trail balance
  • D. Balance sheet
7 The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the
  • A. Balance sheet columns
  • B. Income statement columns
  • C. Cash columns
  • D. Bank columns
8 Financial statement is prepared from the amount given in
  • A. Trail balance columns
  • B. Adjustments columns
  • C. Cash columns
  • D. Adjusted trail balance columns
9 A ______ is a large columnar sheet of paper
  • A. Worksheet
  • B. Balance sheet
  • C. Journal
  • D. None of these
10 Worksheet provides complete information for preparing
  • A. Income statement
  • B. Position statement
  • C. Financial statement
  • D. Bank reconciliation statement

Top Scorers of Principles of accounting Icom Part 1 English Medium Chapter 11 Online Test

K

Kanzul_Ul_Emaan

Lahore31 - May - 2025

12/15
05 Mins 09 Sec
T

Tahreem Waris

Lahore23 - Jun - 2025

11/15
02 Mins 31 Sec

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