1. Opening capital is ascertained by preparing

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

3. The opening capital is ascertained by preparing

4. Accounts which are maintained under single entry system-

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

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

7. Single Entry System can be adopted by

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

9. Statement of affairs is prepared to-

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

11. Incomplete records are generally maintained by

12. Statement of affairs is a

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

14. Statement of affairs is prepared to-

15. Normally single entry system is suitable for:

16. Single Entry System of book keeping is:

17. Generally incomplete records are maintained by-

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

19. A single-entry bookkeeping scheme is used

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