Accounts From Incomplete Records CBSE Questions & Answers

Accounts From Incomplete Records

This is Accountancy class 11 accounts from incomplete records CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
As both aspects of transactions are not recorded so it is :
  • A
    Incomplete and Unscientific
    Correct
  • B
    Complete and Scientific
  • C
    Incomplete and Scientific
  • D
    Complete and Unscientific
2
Credit sales can be computed by preparing :
  • A
    Creditors A/c
  • B
    Cash A/c
  • C
    Balance Sheet
  • D
    Debtors A/c
    Correct
3
Credit purchase can be calculated by preparing:
  • A
    Cash A/c
  • B
    Creditors A/c
    Correct
  • C
    Balance sheet
  • D
    Debtors A/c
4
Bill Receivable Account is prepared to know:
  • A
    Opening stock
  • B
    Closing Stock
  • C
    None of these
    Correct
  • D
    Closing Balance of Bill Receivable
5
Opening statement of affairs is prepared to know :
  • A
    Credit Purchases
  • B
    Opening Capital
    Correct
  • C
    Credit Sales
  • D
    Closing Balance of Cash
6
Cash received from debtors can be calculated by preparing :
  • A
    None of these
  • B
    Statement of affairs
  • C
    Debtors Account
    Correct
  • D
    Creditors Account
7
Which of the following is not prepared under Single Entry System?
  • A
    B/R Account
  • B
    Trial Balance
    Correct
  • C
    Creditors Account
  • D
    Debtors Account
8
Single Entry System is suitable only for the :
  • A
    Registered Companies
  • B
    Small Firms
    Correct
  • C
    Insurance companies
  • D
    Banks
9
Single Entry System is not recognized by :
  • A
    Debtors
  • B
    Creditors
  • C
    Small firms
  • D
    Income Tax authorities
    Correct
10
Which of the following is not recorded in the Debtors Account?
  • A
    Discount (debtors)
  • B
    None of these
  • C
    Cash Sales
    Correct
  • D
    Cash Received from debtors
11
________ is a statement of assets and liabilities
  • A
    Profit and Loss Account
  • B
    Statement of Profit and Loss
  • C
    None of these
  • D
    Statement of Arrairs
    Correct
12
Income tax paid by business on behalf of owner is treated as _________
  • A
    Additional capital
  • B
    Capital
  • C
    Drawings
    Correct
  • D
    Tax Payment
13
Under Single entry system we prepared only_________-
  • A
    Profit and Loss Account
  • B
    Journal, Ledger, Trial Balance and Balance Sheet
  • C
    Balance Sheet
  • D
    Personal Accounts and Cash Book
    Correct
14
Single Entry System is mostly used by the ______________
  • A
    Private Companies
  • B
    Registered Companies
  • C
    Tiny Businesses and Institutions
    Correct
  • D
    Partnership Business
15
Under Single Entry System balance sheet is not prepared but Statement of affairs is prepared because __________
  • A
    Balance Sheet and Statement of affairs both are equally valid
  • B
    Assets and Liabilities amounts are not real but estimated
    Correct
  • C
    Court considers only statement of affairs
  • D
    None of these