1.
Capital in the beginning of the accounting year is ascertained by preparing:
1 out of 10
2.
From incomplete records, it is possible to prepare:
2 out of 10
3.
If the rate of gross profit is 25% of sales and Cost of Goods sold is ₹ 1,00,000; the amount of gross profit will be:
3 out of 10
4.
Closing balance of creditors is determined by preparing:
4 out of 10
5.
Sales are calculated by adding:
5 out of 10
6.
Single Entry System can be adopted by:
6 out of 10
7.
In case of net worth method of Single Entry System, profit is ascertained by:
7 out of 10
8.
When closing capital is greater than opening capital it means:
8 out of 10
9.
Bills Payable honoured during the year will be debited to:
9 out of 10
10.
When closing capital is less than opening capital, it means:
10 out of 10
