Choose the correct answer

Question 1.
Incomplete record mechanism of book keeping is
(a) Scientific
(b) Unscientific
(c) Unsystematic
(d) Both (b) and (c)

Question 2.
Opening capital is ascertained by preparing
(a) Total debtor’s account
(b) Total creditor’s account
(c) Cash account
(d) Opening statement of affairs

Question 3.
Credit purchase, during the year is ascertained by preparing :
(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs

Question 4.
If Opening capital is Rs. 60,000, drawings Rs. 5,000, capital introduced during the period Rs. 10,000, closing capital Rs. 90,000. The value of profit earned during the period will be:
(a) Rs. 20,000
(b) Rs. 25,000
(c) Rs. 30,000
(d) Rs. 40,000

Write the correct word(s)

Question 1.
Credit sales can be ascertained as the balancing figure in the …………….. account.

Question 2.
Excess of ……………. over ……………… represents loss sustained during the period.

Question 3.
To ascertain the profit, closing capital is to be adjusted by deducting ………………. and adding …………….

Question 4.
Incomplete records are generally used by ……………….