12th Class ICom Part 2 Principles of Accounting Chapter Wise Online MCQ Test with answers PDF English Medium

Principles of Accounting Icom Part 2 English Medium Online Test

Sr. #	Questions	Answers Choice
1	In single entery system only.	Personal account are maintained Real account are maintained Nominal accounts are maintained None of the above
2	In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.	Incomplete and unscientific Complete and scientific Incompleted and scientific Complete and unscientific
3	Amount received by the concern as per the will of the donor is known as.	Lagacy Donation Subscription None of these
4	Receipts and payments accounts records transaction relating to.	Current year Past year future year All of the above
5	Depreciation written off on fixed assets should be recorded in the.	Income and expenditure account only Receipt and payment account only Receipt and payment account and banalce sheet Income and expenditure account and balance sheet.
6	Subcription received during the current year is.	An income An expenditure An asset An liability.
7	Purchase of sports material for the club should be treated as.	Expense Assets Income Liability
8	The amount paid to person who was invited to deliver a lecture in a club is known as.	Hoorarium Salary Wages None of these
9	Amount received by the way of gift from any person or organization is called.	Donation Subscription Legacy None of these
10	Capital fun of non trading concern is equal to.	Assets + Income Assets + Liabilities Expenditure + Liabilities. Assets - Liabilities
11	The excess of total assets over total liabilituies of a concern is called.	Surplus Deficit Capital fund Profit
12	The income through admissionfee shoul dbe.	Capitalized Treated as revenue Treated as liability An expenses
13	Capital is obtained by deductin liabiliities from.	Expenditures Receipt Assets Incomes
14	Excess of liablilities over assets is an indication of .	Solvency Insolvency Surplus Profit
15	Excess of assets over liabilities is an indication of.	Solvency Insolvency Deficiency Loss

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