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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.
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संबंधित प्रश्न
Answer in one sentence only.
Which types of accounts are normally not kept under the Single Entry System?
Answer in one sentence only.
Can a Trial Balance be prepared under Single Entry System?
Answer in one sentence only.
Which type of organization generally follows 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.
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Single Entry System may be useful for ________.
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?
Single Entry System is based on certain rules and principles
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 __________.
Fill in the blank:
Single Entity System is suitable for ________business.
Under Single Entry System, Profit = Closing Capital Less ______.
Mr. Poonawala keeps his books under the Single Entry System and gives the following information.
Capital as of 31.3.2017 – ₹ 60,000
Capital as on 31.3.2018 – ₹ 1,00,000
Drawings made during the year ₹ 2,000
Additional capital introduced during the year ₹ 12,000
Calculate Profit or Loss during the year.
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 ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
