| 1 |
We cannot prepare the trial balance and precise balance sheet under, |
- A. Single entry system
- B. Double entry system
- C. "a" and "b"
- D. Barter system
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| 2 |
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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| 3 |
Bad debt written off always affect the |
- A. Deblor's account
- B. Creditors account
- C. Cash account
- D. All of the above
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| 4 |
Cash book is prepared to find out the figure of. |
- A. Opening capital
- B. Crosing cash balance
- C. Net profit
- D. Finaincial position
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| 5 |
Bills payable issued durint the period must be debited to total creditors account credited to. |
- A. Bills payable account
- B. Bills receivable account
- C. Debtora account
- D. Cash account
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| 6 |
The fingure of bills payable is worked out by preparing the. |
- A. Total debtors account
- B. Total creditors account
- C. Cash book
- D. Balance sheet
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| 7 |
Due to fresh capital introduced during the year, the closing capital will, |
- A. Increase
- B. Decrease
- C. Constant
- D. Multiply
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| 8 |
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
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| 9 |
The closing balance of trade debtors can be located from. |
- A. Total debtors account
- B. Balance sheet
- C. Bils receivable account
- D. Cash book
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| 10 |
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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