
Single Entry True/False Quiz
Authored by Abhijit Sengupta
Professional Development
Professional Development
Used 4+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Trial Balance cannot be drawn up from books kept under Single Entry
True
False
Answer explanation
True. A Trial Balance requires double-entry bookkeeping to ensure that debits equal credits. Single Entry systems do not provide complete records for all accounts, making it impossible to prepare a Trial Balance.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only Personal Accounts are maintained under Quasi Single Entry
True
False
Answer explanation
The statement is false because Quasi Single Entry systems can maintain Personal Accounts, Cash Book & some Subsidiary books
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All Nominal Accounts are maintained under Single entry System
True
False
Answer explanation
The statement is false because nominal accounts, which include income and expense accounts, are typically maintained under the double entry system, not the single entry system.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only Cash Book & some Personal Accounts are maintained under Simple Single Entry
True
False
Answer explanation
The statement is true because under Simple Single Entry, only a Cash Book and some Personal Accounts are maintained.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Statement of Affairs most of the Assets are recorded based on Estimates, Assumptions, informations gathered from memory rather from the records
True
False
Answer explanation
True. In a Statement of Affairs, many assets are indeed recorded based on estimates and assumptions rather than precise records, reflecting a reliance on memory and subjective judgment.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If opening balance & Closing balance of Creditors A/c is known & also the details of Payment made & Discount received We can get Cash as well as Credit Purchases as the balancing figure
True
False
Answer explanation
The statement is false because knowing the opening and closing balances of the Creditors A/c, along with payments and discounts, can lead us to get only Credit Purchases.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under the Single Entry System, it is possible to prepare a Profit and Loss Account directly from the records.
True
False
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Operate Scissor Lift
Quiz
•
Professional Development
15 questions
Universal Design for Learning
Quiz
•
Professional Development
13 questions
LEAN STARTUP
Quiz
•
Professional Development
18 questions
Infallible Vedas (DYS 2)
Quiz
•
Professional Development
20 questions
Negotiable Instruments
Quiz
•
Professional Development
10 questions
F-Distribution and ANOVA
Quiz
•
Professional Development
12 questions
KPI Establishment Briefing FY2022
Quiz
•
Professional Development
12 questions
SPPUR #1 Materi Pengelolaan Transfer Dana & BI FAST
Quiz
•
Professional Development
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for Professional Development
20 questions
Black History Month Trivia Game #1
Quiz
•
Professional Development
100 questions
Screening Test Customer Service
Quiz
•
Professional Development
20 questions
90s Cartoons
Quiz
•
Professional Development
10 questions
Reading a ruler in Inches
Quiz
•
4th Grade - Professio...
16 questions
Parallel, Perpendicular, and Intersecting Lines
Quiz
•
KG - Professional Dev...
12 questions
Valentines Day Trivia
Quiz
•
Professional Development