| 1 |
Net worth is equal to, |
- A. Assets - Liabilities
- B. Liabilities - Assets
- C. Liabilities + Capital
- D. Capital + Assets
|
| 2 |
Single entry system is suitable where, |
- A. Small amount of cash transactions are more
- B. Large amount of cash transaction are more
- C. Smallamount of cash transaction are more
- D. Largeamount of cash transaction are more
|
| 3 |
The opening and closing balance of bills Receivable can be calculated by preparing the. |
- A. Total debtors accounts
- B. Total creditors account
- C. Bills Recivable accounts
- D. Salaes accounts
|
| 4 |
North worth of an organizaton means the excess of its total assets over total. |
- A. Liabilities
- B. Income
- C. Expenses
- D. None of the above
|
| 5 |
In case of dissolution, assets sold for cash are debited to. |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 6 |
Teh single entry system of book keeping is generay followed by |
- A. Small business concern
- B. Large Business concern
- C. Non trading concern
- D. None of these
|
| 7 |
Opening capital is calculated by taking the difference between, |
- A. Opening assets and closing assets
- B. Opening assets and closing liabilities
- C. Opening assets and Opening liabilities
- D. Closing assets and closing liabilities
|
| 8 |
In single entry it is not possible to prepare |
- A. Trial balance
- B. Trading account
- C. Profit and loss account
- D. Balance sheet
|
| 9 |
Cash received from the debtors can be find out by preparing. |
- A. Debtors account
- B. Creditors account
- C. Balance sheet
- D. Trial balance
|
| 10 |
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
|