Single entry system std 12
Master the Single Entry System
Test your knowledge and understanding of the Single Entry System in accounting with this engaging quiz. It features 11 carefully crafted questions designed for students and enthusiasts alike.
Prepare to explore:
- Conceptual understanding of opening capital
- Dimensions of asset and liability analysis
- Practical implications of credit transactions
Opening Capital is ascertained by preparing
Opening statement of affairs account
Total creditors account
Total debtors account
Cash account
Credit purchases made during the year is ascertained by
Total creditors account
Cash account
Total bills payable account
Total debtors account
4. If opening capital is Rs. 60,000, drawings Rs. 5,000, capital introduced during the period is 10,000, e
25000
20,000
30,000
40,000
Single entry system cannot be maintained by
Companies
Soleproprietorship concerns
Partnership concerns
All of the above
In single entry system profit is ascertained as
Closing capital+drawings -additional capital - opening capital
Closing capitla - drawings + additonal capital - opening capital
Closing capital + drawings - opening capital
Closing capital -drawings - additional captial - opening capital
In single entry system it is possible to prepare
Receipts and payments account
Trading account
Profit and loss acccount
Trading account
Statement of affaris is a statement of
Assets and liabilities
Of debtors and creditors
Statement of all assets
Statement of liabilities
The excess of assets over liabilities
Profit
Loss
Cash
Capital
Single entry is not based on any scientific system like double entry system
True
False
Which of the following is transferred from Bills payable account to creditors account
Credit purchases
Bills accepted during the year
Cash paid for bills payable
What is the amount of capital if a persons assets are 81000 and liabilities are 21000
102000
60,000
102000
{"name":"Single entry system std 12", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge and understanding of the Single Entry System in accounting with this engaging quiz. It features 11 carefully crafted questions designed for students and enthusiasts alike.Prepare to explore:Conceptual understanding of opening capitalDimensions of asset and liability analysisPractical implications of credit transactions","img":"https:/images/course2.png"}
More Quizzes
Accounting Quiz
10513
Cash and Credit Transactions (combined)
11632
The United Nations- Quiz
10573
Test de personalite
1268
Information Processing Cycle - Identify Each Phase
201019512
ICD-10-CM 20 - 21: External Causes & Reasons for Encounter
201020924
EEG: Board Prep for Technical Sciences - Free
201019815
Yule Ball: Who Is Your Harry Potter Date?
201021166
Office Personality - Find Your Work Style Type
201021543
What Kind of Potato Am I? Free - Find Your Spud Type
201018500
Electric Potential MCQs - Free Practice
201019414
Europe Trivia - Northern Europe Challenge
201025336