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

2. Generally incomplete records are maintained by-

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

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

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

6. A single-entry bookkeeping scheme is used

7. Incomplete records are generally maintained by

8. Opening capital is ascertained by preparing

9. Single Entry System of book keeping is:

10. Statement of affairs is prepared to-

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

12. The opening capital is ascertained by preparing

13. Statement of affairs is prepared to-

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

15. Accounts which are maintained under single entry system-

16. Statement of affairs is a

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

18. Single Entry System can be adopted by

19. Normally single entry system is suitable for:

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