| 1 |
The Closing Capital is worked out by preparing the. |
- A. Opening statement of affair
- B. Closing statement of affiar
- C. Cash book
- D. Balance sheet
|
| 2 |
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare, |
- A. Debtors account
- B. Creditors account
- C. Trial balance
- D. Statement of affairs
|
| 3 |
Under single entery system informatoin relating to expenses must be ascertained from the analysis of. |
- A. Debtors account
- B. Creditors account
- C. Sales book
- D. Cash book
|
| 4 |
The figure of the credit purchase can be worked out. |
- A. Total debtors account
- B. Total creditors account
- C. Cash book
- D. Balance sheet
|
| 5 |
A statement of assets and liabilities is prepared under the single entery system is called. |
- A. Balance sheet
- B. Financial statement
- C. Statement of affair
- D. Cash transaction
|
| 6 |
The closing balance of trade debtors can be located from. |
- A. Total debtors account
- B. Balance sheet
- C. Bils receivable account
- D. Cash book
|
| 7 |
How many mathods are available to calculate the profit or loss under single entery system. |
- A. One
- B. Two
- C. Three
- D. Four
|
| 8 |
Single entry system contains, |
- A. A daybook or general journal
- B. A cash book
- C. Ledger accounts for individual customers and creditors
- D. All of the above
|
| 9 |
Single entry system is generally adopted by, |
- A. Small business concerns
- B. Large business concerns
- C. Medium business concerns
- D. All of the above
|
| 10 |
Due to fresh capital introduced during the year, the closing capital will, |
- A. Increase
- B. Decrease
- C. Constant
- D. Multiply
|