CBSE Class 11 Accountancy Accounts from Incomplete Records Quiz 1

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

A Cash system B Mahajani system of accounting C Incomplete accounting system D None of these.

2. Accounts which are maintained under single entry system-

A Personal accounts B Impersonal accounts C (a) & (b) both D None of these.

3. Statement of affairs is prepared to-

A Know about assets B Know about liabilities C Calculate capital D Know financial position.

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

A Creditors B Debentures C Profit D Capital.

5. Generally incomplete records are maintained by-

A Trader B Society C Company D Government.