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12th Class Principles of Accounting Test

Here you can prepare 12th Class Principles of Accounting English Medium Test. Click the button for 12th Class Principles of Accounting English Medium 100% free full practice test.

12th Class Principles of Accounting MCQ Test With Answer for Principles of Accounting Full Book

Principles of accounting are the rules and guidelines to report financial data, the general guidelines and principles, standards and detailed rules, plus industry practices that exist for financial reporting.

Principles of Accounting HSSC part 2, I.Com part 2 objective paper consists of MCQs of 20 marks and it has to be attempted in first 25 minutes. This objective MCQs section is compulsory.

By the end of the year students do not find enough time to write and prepare their papers because of time shortage, ilmkidunya has provided a solution for I.Com part 2 students. ICom part 2 Students can prepare their Principles of Accounting subject on this page by attempting this online MCQs objective paper. I.Com part 2 students can attempt Principles of Accounting objective paper as many times as they want. In this case I.com students will be able to prepare their principles of accounting paper in a better way with complete guidelines.

Ilmkidunya is the largest educational website of Pakistan which contains all up to date data for students of every field of subjects related to schools, colleges and universities. Every field of students can find help for their educational problems here. Ilmkidunya has given a great opportunity to I.Com part 2, HSSC part 2 students to prepare their papers online so that they can perform better in their annual exams. These online papers contain thousands of objective MCQs and by solving these online papers, ICom part 2 students can judge their preparation for annual exams.

 

ICOM Part 2 Accounting Test
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Top Scorers of Principles of Accounting Icom Part 2 English Medium Online Test

A

Ahsan Ali

Lahore13 - Dec - 2024

11/15
04 Mins 58 Sec
A

Ahsan Ali

Lahore13 - Dec - 2024

8/15
05 Mins 12 Sec

12th Class Principles of Accounting MCQ Test With Answer for Principles of Accounting Full Book

Sr. # Questions Answers Choice
1 Receipts and payments accounts records transaction relating to.
  • A. Current year
  • B. Past year
  • C. future year
  • D. All of the above
2 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,
  • A. Adjusted closing capital
  • B. Closing capital
  • C. Cash in hand
  • D. Cash at bank
3 For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
  • A. Cash account
  • B. Consignee personal account
  • C. Consignment account
  • D. None of the above
4 In case of del creder commission the liability of bad debts is on
  • A. Consignee
  • B. Consignor
  • C. Both on consignee and consignor
  • D. None of the above
5 A paartner who have a major investment in the firm and receive a relatively more profit is called.
  • A. Sleeping partner
  • B. Darment partner
  • C. Senior partner
  • D. Estoppels partner
6 For the firm, interest on drawing is.
  • A. Expense
  • B. Income
  • C. Liability
  • D. None of these
7 The dividend paid to the shareholders during the finaincial year is.
  • A. Final dividend
  • B. Interim divident
  • C. Unclaimed divident
  • D. Proposed dividend
8 Consignee account is of the natur eof.
  • A. Personal account
  • B. Nominal account
  • C. Real account
  • D. None of these
9 The unsold stock is valued at
  • A. Original cost of the goods
  • B. Market value of the goods
  • C. Orginal cost price + proportionate direct expense incutred by the both consignor and consignee
  • D. Cost of market pric ewhich wver is the lower.
10 Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's
  • A. Trading and profit and loss account
  • B. Balance sheet
  • C. Bank account
  • D. Petty cash book

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  • K

    Konain

    23 Mar 2019

    yahn p MCQs ky ilawa subjective k test nhi hota plz help me

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  • Z

    Zain Awan

    07 Apr 2018

    15/14

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  • A

    Abdul Rehman

    02 Feb 2018

    moja kuch bi nhi ata plz i request you k moja sb smjaa da sir plz plz mein kaam krta hun jis ki wjja sa mein study ko time nhi da skka plzz help me

    Like (1)
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  • A

    Abdul Rehman

    02 Feb 2018

    plz help me

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  • R

    Raja Toseef

    16 Nov 2017

    sir mujy princepal of accounting icom part ll k chapter numbar 25 depression ki problims karwa dain ap ki bhot mahrbani ho ge plzzzzzzz

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  • S

    Shahrukh

    21 Apr 2016

    no question

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  • Z

    Zani Javed

    20 Apr 2016

    can u telll me that how given the test of geoghraphy and banking because these sub is not availabe their plzzzzzzzzzzzzzzzzz telllll me about these subbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

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  • Z

    Zani Javed

    06 Apr 2016

    how given the entry test of banking and an other sub plz plz plz help me about this matter.

    Like (1)
    Reply
  • T

    Talib

    27 Feb 2016

    good job

    Like
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  • M

    Mahnoor

    29 Jan 2016

    its very Interesting. best website

    Like (2)
    Reply
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