12th class Principle of Accounting chapter 1 short question with answers for ICom part 2 Principle of Accounting Chapter 1

Online Short Questions For Chapter 1 "ICOM Part 2 Principles of Accounting Chapter 1 Short Questions Preparation "

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Principles of Accounting - ICOM Part 2 Principles of Accounting Chapter 1 Short Questions Preparation

Question # 1

What is difference between balance sheet and statement of affairs?

  • Ans 1: Balance Sheet: Balance Sheet is prepared to find out the financial position of business under double entry system.
  • Ans 2: Statement of affairs:Statement of affairs is prepared to calculate capital at the end or the start of the year under single entry system
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Prepare Complete Set Wise Questions For Chapter 1 "ICOM Part 2 Principles of Accounting Chapter 1 Short Questions Preparation "

ICOM Part 2 Principles of Accounting Chapter 1 Short Questions Preparation - Set 1

Question # 1

What is difference between balance sheet and statement of affairs?

  • Ans 1: Balance Sheet: Balance Sheet is prepared to find out the financial position of business under double entry system.
  • Ans 2: Statement of affairs:Statement of affairs is prepared to calculate capital at the end or the start of the year under single entry system
    .
Submit

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Principles of Accounting
1st Chapter

12th Principles of Accounting Chapter 1 Test

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