Test Details

Accounts from Incomplete Records

Jan 31, 11:00 AM

30 minutes

Jan 31, 11:30 AM

40.0 marks

MCQ

15 questions

Neena

Class Details

Accounts

+1 Commerce

Accounts

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Question Text

Question 2 :
Method of accounting in which nominal accounts are not maintained  is ____________.

Question 3 :
A statement similar to balance sheet prepared to find out the amount of opening capital is ___________.

Question 4 :
An accounting system where debit and credit rule is not followed.

Question 6 :
In _____ forms of business the owners are directly responsible for the debts of the business.

Question 7 :
Find the total at assets at the end of the year if the net profit, drawing during the year and assets at the beginning of the year were 12,000, 7,000 and 15,000 respectively.

Question 8 :
State whether the following statement is True or False. Share forfeited balance is transferred to Capital Reserve Account.

Question 10 :
Cash paid to Creditors needed for the construction of cash account can be ascertained from __________________ .

Question 11 :
Which preparing accounts from incomplete records, the amount of credit sales is determined by?

Question 12 :
Total sales during the year amounted to Rs.170000, cash sales Rs.10000, outstanding debtors at the end of the year Rs.25000. Cash received from debtors will be Rs.____________.

Question 13 :
To ascertain the profit, closing capital is to be adjusted by deducting ________ and adding _________.

Question 14 :
Calculate : Sales Opening Debtors Rs.5000 Opening Bills Receivable Rs.2000 Cash received from Debtors (including cash from bills receivable) Rs.10000 Closing bills receivable Rs.1000 Closing debtors Rs.8000

Question 15 :
Cost of goods sold is Rs$1,20,000$ Gross Profit : $1/4th$ on sales what is the amount of sales.

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