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Online Tests
Principles of Accounting Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
In case of dissolution, assets sold for cash are debited to.
Choose an answer
Realization account
Cash account
Assets account
None of these
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Question # 2
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Choose an answer
Stock on consignment account
Consignment
Consignee account
None of the above
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Question # 3
Bad debt written off always affect the
Choose an answer
Deblor's account
Creditors account
Cash account
All of the above
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Question # 4
The closing balance of trade debtors can be located from.
Choose an answer
Total debtors account
Balance sheet
Bils receivable account
Cash book
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Question # 5
Kind of company is.
Choose an answer
2
3
4
5
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Question # 6
Dividend is calculated on.
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Registered capital
Issue Capital
Paid up Capital
Subscribed Capital
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Question # 7
The which is calculated at the time of retirment of partner is
Choose an answer
Gaining ratio
Serching ratio
Capita ratio
New ratio
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Question # 8
Income and expenditure account shows
Choose an answer
Cash in hand
Surplus or deficit
Cash at bank
Capital account
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Question # 9
The income and expenditure account begins with.
Choose an answer
Opening debit balance
Opening credit balance
Opening balance
None of these
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Question # 10
the profit on consignment in the books of the consignor should be deited to.
Choose an answer
Consignnment account
Profit and loss account
Consignee 's account
None of these
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Question # 11
The difference of the two sides of receipt and payment account represents.
Choose an answer
Opening cash balance
Closing cash or bank balance
Opening bank balance
None of these
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Question # 12
In the books of consignee the sale of goods by the consigee credited to.
Choose an answer
Sales account
Consignor account
Consignee's account
None of these
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Question # 13
The dividend paid to the shareeholders duirng the financial year is.
Choose an answer
Redeemable debentures
Irredeemable debentures
Repayable debebtures
None of these
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Question # 14
The opening and closing balance of bills Receivable can be calculated by preparing the.
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Total debtors accounts
Total creditors account
Bills Recivable accounts
Salaes accounts
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Question # 15
Current accoujts of the partners should be opened when the capital are.
Choose an answer
Fixed
Fluctuating
Either fixed or fluctuating
None of these
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Question # 16
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
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