Financial Accounting MCQ Revision

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Developed by Mrs S A Sangrulkar

Full name of student *

Roll number *

Class and Division *

Statement of assets and liability prepared under single entry system is called *

2 points

Balance sheet

Statement of Affairs

Trail Balance is not obtained in *

2 points

Single Entry System

Double Entry System

Single Entry System has effect------------- *

2 points

two effects

one effect

In Single Entry System it is not possible to prepare --------- *

2 points

balance sheet

trial balance

If Bills Receivables received during the year are not given, first prepare Bills Receivable
A/c trace out that figure and then prepare *

2 points

total bills receivable account

bills payable account

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