Multiple Choice
Businessmen may intentionally not maintain proper accounts
A) to evade taxation.
B) to prevent themselves from destruction of books due to uncertainty.
C) as they are ignorant of the legal entity assumption.
D) as they are ignorant of the double entry accounting principles.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: On amalgamation, if the dissolution expenses are
Q3: The Charter document or the formation document
Q4: Single entry system contains<br>A)All the relevant accounts<br>B)Only
Q5: When closing capital is less than opening
Q6: In absence of LLP agreement the mutual
Q8: If Building (closing) Rs.100,000, Land (opening) Rs.
Q9: If opening capital is Rs.10,000 & closing
Q10: Prepaid expenses are shown under<br>A)Loans and advances
Q11: _is a person who is designated as
Q12: In single entry system profit is calculated