TN State Board Samacheer Kalvi Online Test for 12th Std - Accountancy - English - Accounts from Incomplete Records

Question 1 Of 10

The amount of credit sales can be computed from

Total debtors account Total creditors account Bills receivable account Bills payable account

Question 2 Of 10

Statement of affairs is a

Statement of income and expenditure Statement of assets and liabilities Summary of cash transactions Summary of credit transactions

Question 3 Of 10

Opening statement of affairs is usually prepared to find out the

Capital in the beginning of the year Capital at the end of the year Bills payable accepted during the year Loss occurred during the year

Question 4 Of 10

Which one of the following statements is not true in relation to incomplete records?

It is an unscientific method of recording transactions Records are maintained only for cash and personal accounts It is suitable for all types of organisations Tax authorities do not accept

Question 5 Of 10

The excess of assets over liabilities is

Loss Cash Capital Profit

Question 6 Of 10

Incomplete records are generally maintained by

A company Government Small sized sole trader business Multinational enterprises

Question 7 Of 10

When capital, in the beginning, is ₹ 10,000, drawings during the year is ₹ 6,000 profit made during the year is ₹ 2,000 and the additional capital introduced is ₹ 3,000, find out the amount of capital at the end.

₹ 9,000 ₹ 11,000 ₹ 21,000 ₹ 3,000

Question 8 Of 10

Which of the following items relating to bills payable is transferred to the total creditors account?