More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test MCQs With Answers
Question # 1
In single entery system only.
Choose an answer
Personal account are maintained
Real account are maintained
Nominal accounts are maintained
None of the above
Previous
Skip
Next
Question # 2
Bills payable issued durint the period must be debited to total creditors account credited to.
Choose an answer
Bills payable account
Bills receivable account
Debtora account
Cash account
Previous
Skip
Next
Question # 3
In appearance, the statement of affairs, is similar to a.
Choose an answer
Balance sheet
Profit and loss account
Trading account
Bank Reconciliation statement
Previous
Skip
Next
Question # 4
Double entry system means
Choose an answer
The recording of same things twice
Double accounting
The two sides of every transaction are recorded
Entry at two dates
Previous
Skip
Next
Question # 5
The opening capitla is ascertained by preparing.
Choose an answer
Cash account
Opening statements of affairs
Total debtors account
Total creditors account
Previous
Skip
Next
Question # 6
Under the conversion method of single entry credit salea are ascertained by preparing the.
Choose an answer
Total debtors account
Total creditors account
Total cash account
Total bills receivable account
Previous
Skip
Next
Question # 7
Arithmetical accuracy of the books of accounts cannot be checked under.
Choose an answer
Single Entry system
Double entery system
None entery system
Both a and b
Previous
Skip
Next
Question # 8
Single entry system contains,
Choose an answer
A daybook or general journal
A cash book
Ledger accounts for individual customers and creditors
All of the above
Previous
Skip
Next
Question # 9
Bad debt written off always affect the
Choose an answer
Deblor's account
Creditors account
Cash account
All of the above
Previous
Skip
Next
Question # 10
Both aspects of a transaction must be recorded in,
Choose an answer
Single entry system
Barter system
Double entry system
Islamic system
Previous
Skip
Next
Question # 11
Acceptance received durinthe period must be debited to bills receivable account and credited to.
Choose an answer
Total bills receivable account
Total debtors account
total cash account
Total bills receivabel account
Previous
Skip
Next
Question # 12
The opening and closing balance of bills Receivable can be calculated by preparing the.
Choose an answer
Total debtors accounts
Total creditors account
Bills Recivable accounts
Salaes accounts
Previous
Skip
Next
Question # 13
Teh single entry system of book keeping is generay followed by
Choose an answer
Small business concern
Large Business concern
Non trading concern
None of these
Previous
Skip
Next
Question # 14
Under single entery system informatoin relating to expenses must be ascertained from the analysis of.
Choose an answer
Debtors account
Creditors account
Sales book
Cash book
Previous
Skip
Next
Question # 15
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,
Choose an answer
Debtors account
Creditors account
Trial balance
Statement of affairs
Previous
Skip
Next
Back