First Year Principles of Accounting Chapter 9 Online MCQ Test for 1st Year Principles of Accounting Chapter 9 (Final Accounts)

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11th Principles of Accounting Chapter 9 Test

This online test contains MCQs about following topics:

Principles of accounting Icom Part 1 English Medium Chapter 9 Online Test

Try the Principles of accounting Icom Part 1 English Medium Chapter 9 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 9 Online Test

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Question # 1

Which of the following discloses the financial position of the business

Question # 2

If the gross profit is Rs. 5000 and the net profit is 35% of the gross profit then the expenses must be

Question # 3

Assets which have no physical existence are called

Question # 4

Stock is trade is a

Question # 5

Position statement is similar to a

Question # 6

Net profit is equal to

Question # 7

A balance sheet is a

Question # 8

Net profit plus expenses is equal to

Question # 9

Profit or loss appropriation account is not prepared in the case of

Question # 10

Debts which are repayable in the course of less than one year bur more than one month are called

Question # 11

An operating statement is similar to a

Question # 12

Cash of sales is equal to

Question # 13

The valuation of closing stock is at

Question # 14

Gross profit equals to

Question # 15

Excise duty is a

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Prepare All Principles of accounting Icom Part 1 English Medium Chapter 9 Online Test MCQs With Answers


. What are final accounts . What do we mean by revenue . Expenses . Matching revenue and expenses . Trading account . Why is trading account prepared . Why closing stock is shown in the trading account . Valuation of closing stock . Closing entries: last stage in final accounts . Profit and loss account: stage 2 . Blance sheet: last stage in final accounts . Classification of assets . Classification of liabilities . Grouping and marshalling of assets & liabilities in balance sheet

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