Procedure of conversion of Single entry books into Double entry
A) Depends upon the nature of the records maintained in the single entry
B) To prepare a statement of affairs at the starting date of the selected accounting
C) Some items like allowance, bad debt, dishonoured bills must be included
D) All the above
Correct Answer:
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Q8: Single entry can be adopted by :
A)Small
Q9: The amount of credit sale is ascertained
Q10: The capital at the beginning of the
Q11: Single entry book-keeping means
A)Incomplete records
B)Loose and defective
Q12: Statement of Affairs is a statement of
A)Statement
Q14: Under the net worth method, the profit
Q15: The closing capital can be ascertained by
Q16: Profit under the net worth method, when
Q17: To ascertain the real profit, the difference
Q18: Under single entry system the main account
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