ICSE Class 10 Accounting Principles and Financial Reporting — Mock Test (2027)
Free online mock test for Accounting Principles and Financial Reporting (ICSE Class 10 Commercial Applications) — 4 competency-based questions based on the latest CISCE 2027 syllabus, with instant marking. Try the samples below, then take the full test free.
What to expect: This mock test covers key concepts from the Accounting Principles and Financial Reporting chapter — including application-based and competency-focused questions aligned with how ICSE actually sets the paper.
Tip: Attempt without notes first to identify gaps, then review explanations for any wrong answers. Retake after a few days for best retention.
Sample questions
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1.With reference to the Dual Aspect Principle identify the correct option:
- a.Assets = Capital – Liabilities
- b.Liabilities = Assets + Capital
- c.Capital = Assets + Liabilities
- d.Capital = Assets – Liabilities
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2.__________ records all cash transactions whether they belong to the current year, previous year or future year.
- a.Profit & Loss Account
- b.Income & Expenditure Account
- c.Receipts & Payments Account
- d.Personal Account
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3.Statement 1: The Going Concern Concept implies that the existing liabilities will not be paid at maturity. Statement 2: Unsold stock of Goods is taken to the next year.
- a.Statement 1 is true and Statement 2 is false.
- b.Statement 1 is false and Statement 2 is true.
- c.Both Statements 1 and 2 are true.
- d.Both Statements 1 and 2 are false.
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4.A non-trading organisation's balance sheet depicts: 1. the assets & liabilities owned by the organisation. 2. the cash position of the organisation. 3. the items of income and expenditure. 4. the financial position of the organisation.
- a.1 and 2 are correct
- b.1 and 4 are correct
- c.2 and 3 are correct
- d.Only 1 is correct
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