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प्रश्न
Do you agree with the following statement?
Real and Nominal accounts are not maintained under Single Entry System.
विकल्प
Agree
Disagree
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उत्तर
Real and Nominal accounts are not maintained under Single Entry System. - Agree.
Explanation:
- Real and nominal accounts are not maintained under single entry system. Only cash and personal accounts are recorded under this system.
- Single entry is an incomplete system of recording transactions and is considered to be suitable for small organisations.
- Therefore, only entries related to personal and cash accounts are recorded, while others are ignored.
APPEARS IN
संबंधित प्रश्न
Answer in one sentence only.
What do you mean by Single Entry System?
Answer in one sentence only.
Which statement is prepared under the Single Entry system to ascertain the capital balances?
Answer in one sentence only.
How Opening Capital is calculated under Single Entry System?
Answer in one sentence only.
Which type of accounts are maintained under Single Entry System?
Answer in one sentence only.
Can a Trial Balance be prepared under Single Entry System?
Write a word, term, or phrase which can substitute the following statement.
System of Accounting normally suitable to small business organization.
Write a word, term, or phrase which can substitute the following statement.
Name of method of accounting suitable to firms to having limited transactions.
Write a word, term, or phrase which can substitute the following statement.
A System of accounting which is unscientific.
State True or False with reasons:
Single Entry System is not useful for large organization.
Do you agree with the following statement?
Interest on Drawings decreases the amount of profit under Single Entry System.
Do you agree with the following statement?
Statement of Profit is just like Profit and Loss Account.
Fill in the blank:
Single Entry System is more popular for __________.
Interest in Drawings decreases the amount of profit under the Single Entry System.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
