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

2. Single Entry System of book keeping is:

3. Generally incomplete records are maintained by-

4. Accounts which are maintained under single entry system-

5. The opening capital is ascertained by preparing

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

7. A single-entry bookkeeping scheme is used

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

9. Statement of affairs is a

10. Opening capital is ascertained by preparing

11. Normally single entry system is suitable for:

12. Single Entry System can be adopted by

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

14. Statement of affairs is prepared to-

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

16. Statement of affairs is prepared to-

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

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

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

20. Incomplete records are generally maintained by