Question # 1

Cash book is prepared to find out the figure of.

Choose an answer

Opening capital

Crosing cash balance

Net profit

Finaincial position

How many mathods are available to calculate the profit or loss under single entery system.

Choose an answer

One

Two

Three

Four

Cash paid to creditors can be woked out from.

Choose an answer

Debtora account

Creditors account

Balance sheet

None of theses

A statement of assets and liabilities is prepared under the single entery system is called.

Choose an answer

Balance sheet

Financial statement

Statement of affair

Cash transaction

Teh single entry system of book keeping is generay followed by

Choose an answer

Small business concern

Large Business concern

Non trading concern

None of these

The closing balance of trade debtors can be located from.

Choose an answer

Total debtors account

Balance sheet

Bils receivable account

Cash book

Single entry system is suitable where,

Choose an answer

Small amount of cash transactions are more

Large amount of cash transaction are more

Smallamount of cash transaction are more

Largeamount of cash transaction are more

The system in whihc accounting records are not kept strictly according to the double entery principle of book keeping is called.

Choose an answer

Single , entery system

Accrual system

Double enterysystem

Cash system

The opening capitla is ascertained by preparing.

Choose an answer

Cash account

Opening statements of affairs

Total debtors account

Total creditors account

The Closing Capital is worked out by preparing the.

Choose an answer

Opening statement of affair

Closing statement of affiar

Cash book

Balance sheet

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,

Choose an answer

Adjusted closing capital

Closing capital

Cash in hand

Cash at bank

In single entry system real accounts are not maintained so the preparation of,

Choose an answer

Correctly

Effectively

Wrongly

Approximately

The figure of the credit purchase can be worked out.

Choose an answer

Total debtors account

Total creditors account

Cash book

Balance sheet

In single entry system both the aspects, debit and credit of a transaction are not recorded soit is.

Choose an answer

Incomplete and unscientific

Complete and scientific

Incompleted and scientific

Complete and unscientific

Bills payable issued durint the period must be debited to total creditors account credited to.

Choose an answer

Bills payable account

Bills receivable account

Debtora account

Cash account

If the cash sales are missing they are to be ascertained by the construction of.

Choose an answer

Debtors account

Creditors account

Cash account

None of these

More Classes

Other Links

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer