1. Single Entry System of book keeping is:

2. Statement of affairs is prepared to-

3. Single Entry System can be adopted by

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

5. Statement of affairs is a

6. Normally single entry system is suitable for:

7. A single-entry bookkeeping scheme is used

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

9. Incomplete records are generally maintained by

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

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

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

13. Opening capital is ascertained by preparing

14. Accounts which are maintained under single entry system-

15. Statement of affairs is prepared to-

16. The opening capital is ascertained by preparing

17. Generally incomplete records are maintained by-

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

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

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