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 receipt and payments account	No narration is written No ledger reference is recorded Daily cash balance cannot be ascertained All of the above
2	Receipts and payments account records transaction relating to	Past year Future year Present year All of the above
3	A receipts and payments account is similar to	An income and expenditure A statement of affair A cash or a bank account A profit or loss account
4	Receipts and payments account shows	Debit and credit balances of ledgers Incomes and expenditures Cash receipts and payments Assets and liabilities
5	Receipts and payments account records the transactions of	Revenue nature Capital nature Revenue and capital nature None of these
6	The basic club record or book of original entry in non-profit making organization	Purchase book Sales book Cash book "a" and "b"
7	A person who is elected to run the club	Treasurer Secretary Chairperson President
8	The method for preparing the final accounts in trading concerns and non-profit making organizations are	Same Different Easy Difficult
9	Non-profit making organization is also known as	Non-profit seeking concern Non-trading concern Trading concern "a" and "b"
10	Non-profit making organizations are established for	Profit Charitable or religious purpose To manufacture goods To help the rich people
11	Example of non-profit making organization	Fan factory Sugar industry Hospital Shoe factory
12	Non-profit making organizations	Buy goods Manufacture goods Sell goods None of these
13	According to companies ordinance, single entry system cannot be adopted by,	Sole proprietorship Partnership "a" and "b" Joint stock companies
14	Single entry system is suitable where,	Small amount of cash transactions are more Large amount of cash transaction are more Smallamount of cash transaction are more Largeamount of cash transaction are more
15	To calculate the true net profit or net loss in single entry system it is necessary that the amount of fresh capital should be subtracted from,	Adjusted closing capital Closing capital Cash in hand Cash at bank

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