Single entry system

Single entry system

11th Grade

9 Qs

quiz-placeholder

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Single entry system

Single entry system

Assessment

Quiz

Education

11th Grade

Practice Problem

Medium

Created by

AMANDEEP SINGH

Used 5+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

credit sales can be computed by preparing :

cash a/c

debtors a/c

creditors a/c

statement if affairs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following is not prepared under single entry system?

debtors a/c

creditors a/c

bill receivable a/c

trial balance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

single entry system is not recognised by

income tax authorities

small firms

debtors

creditors

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

acceptance received during the year should be debited to ..............................

bills payable a/c

creditors a/c

bills receivable a/c

debtors a/c

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following is correct

only real a/c are maintained

only personal a/c are maintained

personal a/c and cash a/c are maintained

real a/c are maintained

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

mohan who keeps book under single entry system tell you that his capital on 31st march,2020 is 93,500 and his capital on 1st april 2019 was 96,000. during the year he withdrew for household purpose 42,100. he once sold his investments of Rs. 10,000 at 2% premium and brought that money into the business. calculate profit.

59200

29400

13200

50400

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

kartik started a firm on 1st april 2019 with capital of Rs. 30,000. on 1st july 2019 , he borrowed from his wife a sum of 12000 @ 9% p.a (interest not yet paid) for business and introduced a further capital of his own amounted to 4,500. on 31st march 2020 his position was,cash 1800, stock 28200, debtors 21,000 and creditors 18,000. drawings during the year were 6000. calculate capital at the end of the year

17,460

30,380

20,190

35,930

8.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

sales are Rs. 50,000. Gross profit is 25% on cost. calculate cost og goods sold

12,500

10,000

15,000

7,500

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which generally accepted accounting principle is followed under single entry system.

dual aspect concept

money measurement concept

matching concept

nonnone of thesee of the