Multiple Choice
The closing capital can be ascertained by preparing
A) Cash account
B) Statement of Affairs
C) Trial balance
D) Profit and Loss account
Correct Answer:

Verified
Correct Answer:
Verified
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
Q66: The capital at the beginning of the
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
Q71: Under single entry system the main account
Q72: Income and Expenditure Account records-<br>A)Capital items<br>B)Revenue items<br>C)A