Some small businessmen do not maintain the complete books of account. Why?
It is by law
Unawareness
They don't have time
By the rules of society
What is the other name of incomplete entry?
Single
Double
Dual
Triple
The full set of account helps in the preparation of:
Final accounts
Trading income
Nominal income
Real income
Trial balance is prepared to check the arithmetical accuracy. This is the feature of:
Single entry
Double entry
Incomplete entry
No entry
Which account is usually prepared to find out the capital?
Balance sheet
Statement of affairs
Trading accounts
Which one is a NOT a mixture of single entry?
Verify entry
Margin and mark-up measures the gross profit as:
Percentage
Correct figure
Approximate figure
Unmeasurable
Accounts under this system are not acceptable to tax authorities.
Source of information about bills payable:
Bills receivable account
Bills payable account
Purchases
Incomes
Margin is a:
Cost price
Selling price
Invoice price
Detached price
