11th class Principles of Accounting chapter 11 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 11(Work Sheet)

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

Sr. #	Questions	Answers Choice
1	The excess of credit column over debit column in income statement is called	Net loss Net profit Cash balance Gross profit
2	The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the	Balance sheet columns Income statement columns Cash columns Bank columns
3	Financial statement is prepared from the amount given in	Trail balance columns Adjustments columns Cash columns Adjusted trail balance columns
4	Which one of the following in used to simplify work, to be done at the end of period	Balance sheet Income sheet Bank statement Work sheet
5	A sheet which minimizes the chances of errors to the maximum possible extent is called	Balance sheet Work sheet Paper sheet Income statement
6	Expired cost of fixed assets means	Appreciation Amortization Depreciation None of these
7	In the preparation of the worksheet the amounts on the trail balance columns are taken directly from	Journal Ledger Trail balance Transaction
8	The body of worksheet contains	Two pairs of money column Three pairs of money column Four pairs of money column Five pairs of money column
9	Which one of the following is not considered the permanent part of the accounting record?	Journal Trail balance Ledger Work sheet
10	Adjusting entries affect	Balance sheet Income statement Work sheet All of them
11	One way of avoiding errors in the permanent accounting records is to use a form which is called	Bank statement Trail balance Balance sheet Work sheet
12	Worksheet provides complete information for preparing	Income statement Position statement Financial statement Bank reconciliation statement
13	Adjusted ______ is used to prepare the income statement and balance sheet	Trail balance Ledger Balance sheet Bank statement
14	The ______ is not a part of the permanent accounting record	worksheet Journal Ledger Trail balance
15	A ______ is a large columnar sheet of paper	Worksheet Balance sheet Journal None of these

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