1. Single Entry System can be adopted by

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

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

4. Normally single entry system is suitable for:

5. Statement of affairs is prepared to-

6. Accounts which are maintained under single entry system-

7. Statement of affairs is prepared to-

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

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

10. Statement of affairs is a

11. Generally incomplete records are maintained by-

12. A single-entry bookkeeping scheme is used

13. Incomplete records are generally maintained by

14. Opening capital is ascertained by preparing

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

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

17. The opening capital is ascertained by preparing

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

19. Single Entry System of book keeping is:

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