Find the odd one and state the reason.
Sales account
Purchase account
Wages
Carriage outwards
If opening capital is Rs. 60,000, drawings Rs. 5,000 Capital introduced during the period Rs 10,000, closing capital Rs. 90,000 the value of profit earned during the period will be
20,000
25,000
30,000
4,000
____________ system of accounting can be adopted by people who do not have the proper knowledge of accounting principles.
Single entry system
Incomplete records
Both a and b
None of these
Under__________ system real and normal aspect of each transaction is not recorded.
single entry system
double entry system
Both of these
Under single entry system no________can be prepared to verify the arithmetical accuracy of the records kept.
trail balance
profit and loss account
balance sheet
ledger account
____________ account is prepared to find out credit sales.
Debtors
Creditors
Sales
Purchase
Which of the following items of bill payable account are transferred to total creditors account?
Closing balance of bills payable
Bills payable dishonored during the year
Opening balance of bills payable
Bills payable issued during the year
Cash paid to creditors + closing creditors- opening creditors = _________.
Total purchase
Cash purchase
Credit purchase
To get profit, closing capital is adjusted by__________drawing.
Adding
Deducting
Dividing
Balancing
Which of the following statements is correct in respect of returns out wards?
Deducted form purchases
Debited to total creditors
None of them
Both of them
