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
Margin is a:
Cost price
Selling price
Invoice price
Detached price
The system is economical as lesser number of books need to be maintained. It is the advantage of:
Incomplete entry
Single entry
Double entry
No entry
Statement of affairs is similar to:
Trading account
Profit and loss account
Balance sheet
Final accounts
The gross profit measured as a percentage of selling price is:
Mark-up
Balance
Margin
Stock turn over
Margin and mark-up measures the gross profit as:
Percentage
Correct figure
Approximate figure
Unmeasurable
Which one is a NOT a mixture of single entry?
Verify entry
Accounts under this system are not acceptable to tax authorities.
Profit or loss under this system is only an estimate. This system is:
The number of times a business replaces its stock in a given period of time.
Stock in turn over