Books maintained under double entry system are less reliable because of -------------
They are based on facts
They are based on estimates
None of these
Both of these
_________ system of accounting become difficult to convince the income tax authorities about the reliability of the computed income
Single entry
Double entry
Management accounting
Computerized accounting
To get profit, closing capital is adjusting by------------ drawing
Adding
Deducting
Dividing
Balancing
____________ account is prepared to find out credit sales.
Debtors
Creditors
Sales
Purchase
Incomplete records mechanism of book keeping is
Scientific
Unscientific
Unsystematic
Both b and c
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
Incomplete records are usually maintained by----------------
Company
Government
Small traders
Find the odd one and state reason
Credit purchase
Endorsement of bill
Returns inwards
Return to suppliers
_______________ system of accounting is inexpensive as compared to double entry system
Cost accounting
Computerised accounting
Under------------- system real and normal aspect of each transaction not recorded
Single entry system
Double entry system
