First Year Principles of Accounting Chapter 12 Online MCQ Test for 1st Year Principles of Accounting Chapter 12 (Financial Statements)

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11th Principles of Accounting Chapter 12 Test

This online test contains MCQs about following topics:

Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test

Try the Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test

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Question # 1

The margin that is available to cover the other expenses for a period and to yield net income is known as

Question # 2

Net purchases are equal to

Question # 3

All expenses connected with the office and its conduct are called

Question # 4

Which one of the following is a direct expense?

Question # 5

From the business point of view, interest on drawings is

Question # 6

Cost incurred to generate revenue is called

Question # 7

Income statement is prepared to ascertain the net result of the business concern under

Question # 8

The inflow of assets in return for services performed or products delivered during a period is

Question # 9

The gross amount of goods sold or services performed during an accounting period is known as

Question # 10

The expenses which are incurred for the generation of revenues from the sales of goods are called

Question # 11

Cost of goods sold is equal to

Question # 12

Net sales equal to

Question # 13

Sales are equal to

Question # 14

Allowance for doubtful debts normally has a

Question # 15

The amount by which the revenue for a particular period of time exceed from expenses incurred to generate them is called

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Prepare All Principles of accounting Icom Part 1 English Medium Chapter 12 Online Test MCQs With Answers


. Cost of goods sold . Income statement . Balance sheet . Difference between income statement and trading and profit and loss account

Here you can prepare 11th Principles of Accounting English Medium Chapter 12 Financial Statements Test. Click the button for 100% free full practice test.

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