Multiple Choice
Procedure of conversion of Single entry books into Double entry
A) Depends upon the nature of the records maintained in the single entry
B) To prepare a statement of affairs at the starting date of the selected accounting
C) Some items like allowance, bad debt, dishonoured bills must be included
D) All the above
Correct Answer:
Verified
Correct Answer:
Verified
Q52: The minimum share application money is<br>A)Rs.5 per
Q53: The content of single entry system is<br>A)Double
Q54: When closing capital is more than opening
Q55: Income and Expenditure Account reveals<br>A)Surplus or Deficiency<br>B)Cash
Q56: Credit purchases can be ascertained by preparing<br>A)Creditors
Q58: Under Incomplete records only _ accounts are
Q59: Which method is used under single entry
Q60: A profit on the sale of furniture
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