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
Analysis of accounting is not possible through ______________ system of accounting
Single entry
Double entry
Cost accounting
Management
Opening capital is ascertained by preparing
Total debtors account
Total creditors account
Cash account
Opening statement of affairs
Find the odd one and state reason
Credit purchase
Endorsement of bill
Returns inwards
Return to suppliers
Cash account will not be affected by
Bad debts
Cash received from customers
Discount allowed
All of the above
---------------- is prepared on the basis of those which are not based on double aspects
Balance sheet
Statement of affairs
Trail balance
None of these
Books maintained under double entry system are less reliable because of -------------
They are based on facts
They are based on estimates
Both of these
Statement of affairs is prepared to ascertain -----------
Profit
Capital
Expenses
Income
Incomplete records are usually maintained by----------------
Company
Government
Small traders
Cash paid to creditors + closing creditors- opening creditors= _____________
Total purchase
Cash purchase