Incomplete records are usually maintained by----------------
Company
Government
Small traders
None of these
Incomplete records of business transaction are termed as--------------
Single entry
Double entry
Both of these
To get profit, closing capital is adjusting by------------ drawing
Adding
Deducting
Dividing
Balancing
_______________ system of accounting is inexpensive as compared to double entry system
Cost accounting
Management accounting
Computerised accounting
Opening capital is ascertained by preparing
Total debtors account
Total creditors account
Cash account
Opening statement of affairs
In the case of incomplete records a ------------ picture of all transaction will be available
Full
Complete
Partial
____________ cannot keep its book under singe entry system
Sole proprietor
Partnership firm
Joint stock companies
All of these
Incomplete records mechanism of book keeping is
Scientific
Unscientific
Unsystematic
Both b and c
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
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
