1. Statement of affairs is prepared to-

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

3. Single Entry System can be adopted by

4. Statement of affairs is a

5. Single Entry System of book keeping is:

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

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

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

9. The opening capital is ascertained by preparing

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

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

12. Statement of affairs is prepared to-

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

14. Normally single entry system is suitable for:

15. Generally incomplete records are maintained by-

16. A single-entry bookkeeping scheme is used

17. Accounts which are maintained under single entry system-

18. Opening capital is ascertained by preparing

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

20. Incomplete records are generally maintained by