Question # 1

the term depreciationis used with reference to.

Choose an answer

Tangible assets

Intangible asets

Current assets

Fixed assets

Current accout of the partners should be opened when the capitals are.

Choose an answer

Fluctuating

Fixed

Either fixed or fluctuating

Neither fixed or fluctuating

In single entry system,

Choose an answer

Personal accounts are maintained

Real accounts are maintained

Nominal accounts are maintained

None of the above

Goods sent on consignment should be debited int he books of the consignor.

Choose an answer

Consignee account

Consignment account

Goods sen ton consignment

Consignor account

Where a partner become unsound mind the dissolution is considered as.

Choose an answer

Dissolution by court

Dissolution by Notice

Dissolution by agreement

Compulsory dissolution

Un recorded liability when paid on dissolution of the firmis debited to.

Choose an answer

Realization account

Liability account

Partners capital account

None of these

The basic club record or book of original entry in non-profit making organization

Choose an answer

Purchase book

Sales book

Cash book

"a" and "b"

Non- trading concern prepare.

Choose an answer

Profit and loss account

Income and expenditure account

Manufactureing account

None of these

The amount of share capital which a company is authroxzed to raise is called.

Choose an answer

Subscribed capital

Issued capital

Authorized capital

Paid up capital

The Receipt and payment account is the summery of the

Choose an answer

Cash book

Balance sheet

Trqail balance

Proft and loss account

In cash of net worth method of sigle entery system net profikt is ascertained by.

Choose an answer

Prepareing the trading and profit and account

By cimparing the capitals in the beginning and at the end of the accounting period.

Capital closing + Drawing - fresh capital - opening capital

Capital opening+ Drawing - fresh capital-closing stock

The person who sends the goods to his agent for the purpose of sale is called.

Choose an answer

Consignor

Consignee

Debtor

Creditor

The consignment outward books or journal is maintained by.

Choose an answer

Customers

Consignor

Consignee

Debtors

On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to.

Choose an answer

Realization account

Partners capital account

Assets account

None of these

Amount received by the concern as per the will of the donor is known as.

Choose an answer

Lagacy

Donation

Subscription

None of these

Cash received from the debtors can be find out by preparing.

Choose an answer

Debtors account

Creditors account

Balance sheet

Trial balance

More Classes

Other Links

Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer