Multiple Choice
The capital at the beginning of the accounting year in case of single entry system is determined by opening
A) Opening statement of affairs
B) Cash account
C) Bank account
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q61: Statement of affairs is prepared for ascertaining:<br>A)Financial
Q62: Non-trading concern prepare<br>A)Receipts and Payments A/c<br>B)Balance Sheet<br>C)Income
Q63: The system of keeping incomplete record is
Q64: Single entry can be adopted by :<br>A)Small
Q65: The advantage of a single entry system<br>A)It
Q67: Single entry book-keeping means<br>A)Incomplete records<br>B)Loose and defective
Q68: Income and Expenditure Account is prepared in
Q69: Statement of Affairs is a statement of<br>A)Statement
Q70: The closing capital can be ascertained by
Q71: Under single entry system the main account