1. Accounts are usually held using a single entry scheme by:

2. The opening capital is ascertained by preparing

3. Statement of affairs is prepared to-

4. When closing capital is more than opening capital, it denotes:

5. Bills Payable honoured during the year will be debited to

6. Credit purchase, during the year is ascertained by preparing :

7. Generally incomplete records are maintained by-

8. Statement of affairs is a

9. If opening capital is Rs.(i)0,000 & closing capital is Rs.(i)5,000 then profit or loss:

10. A system of accounting which is not based on double entry system is called-

11. Accounts which are maintained under single entry system-

12. Statement of affairs is prepared to-

13. Liabilities and assets amount to Rs. 50,000 and Rs. 78,000 respectively. The difference amount will represent-

14. When closing capital exceeds opening capital, this means:

15. A single-entry bookkeeping scheme is used

16. Incomplete records are generally maintained by

17. Single Entry System of book keeping is:

18. Normally single entry system is suitable for:

19. Single Entry System can be adopted by

20. Opening capital is ascertained by preparing