| 1 |
In single entry system ledger contains the accounts of, |
- A. Debtors, creditors and cash
- B. Wages and carriage
- C. Salaries and insurance
- D. Assets and liabilities
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| 2 |
The figure of the bills receivable can be worked out from. |
- A. Total debtors account
- B. Total creditors account
- C. Trail balance
- D. Balance sheet
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| 3 |
Cash received from the debtors can be find out by preparing. |
- A. Debtors account
- B. Creditors account
- C. Balance sheet
- D. Trial balance
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| 4 |
Single entery system is most suitbale where |
- A. Credit transactions are numerous.
- B. Cash transactions are numerous
- C. Cahs and credit transactions both are numerios
- D. None of the above
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| 5 |
Under single entry system sometimes, |
- A. Double aspects of a transaction are recorded
- B. Single aspect of a transaction is recorded
- C. No aspect of a transaction is recorded
- D. All of the above
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| 6 |
If the cash sales are missing they are to be ascertained by the construction of. |
- A. Debtors account
- B. Creditors account
- C. Cash account
- D. None of these
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| 7 |
In cash of net worth method of sigle entery system net profikt is ascertained by. |
- A. Prepareing the trading and profit and account
- B. By cimparing the capitals in the beginning and at the end of the accounting period.
- C. Capital closing + Drawing - fresh capital - opening capital
- D. Capital opening+ Drawing - fresh capital-closing stock
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| 8 |
Due to drawings made during the year, the closing capital will, |
- A. Increase
- B. Decrease
- C. Constant
- D. Multiply
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| 9 |
According to companies ordinance, single entry system cannot be adopted by, |
- A. Sole proprietorship
- B. Partnership
- C. "a" and "b"
- D. Joint stock companies
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| 10 |
Net worth is equal to, |
- A. Assets - Liabilities
- B. Liabilities - Assets
- C. Liabilities + Capital
- D. Capital + Assets
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