INCOMPLETE RECORDS

Single entry system is not supported by …………….act

Single entry system gives…………….. Profit & loss/ financial position of firm.

Single entry system of accounting is comparatively ……… expensive.

Dual aspect is completely follow in single entry system. F

• True

• False

In single entry system a firm has fully control on assets.

• True

• False

To compute capital amount in single entry system statement of affair is to be prepared.

• True

• False

In single entry system accounting principles are perfectly followed.

• True

• False

Accrual concept is strictly followed in single entry system.

• True

• False

Which Act Doesn’t supported Accounting from Incomplete Records is not supported

• a. Negotiable Instrument Act 1881

• b. Partnership Act 1932

• c. Contract Act 1872

• d. Companies act 2013

Generally accounts under single entry system maintained by

• a. Sole trader

• b. Company

• c. Firm

• d. H.U.F