How DOUBLE ENTRY SYSTEM is differ from INCOMPLETE RECORDS: - Vidyadip

MCQ

How $\text{DOUBLE ENTRY SYSTEM}$ is differ from $\text{INCOMPLETE RECORDS:}$

A
As True and fair financial position can not be maintained.
B
Arithmetic accuracy can not be checked in it.
C
Only personal account is maintained in it.
✓
Both aspects of every transaction are recorded.

✓

Answer

Correct option: D.

Both aspects of every transaction are recorded.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "M.C.Q (1 Marks)" from Accounts from Incomplete Records→Accounts from Incomplete Records — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Accounts are usually held using a single entry scheme by:

Goods distributed to employees free of cost is debited to:

Trial Balance is a list of the balance of:

Opening Stock $₹ 8,500$
Purchases $₹ 30,700$
Direct Wages $₹ 4,800$
Interest on Loan $₹ 2,800$
Closing Stock $₹ 9,000$
Cost of goods sold will be $......$

Cash Book records:

Closing balance of creditors is determined by preparing:

Bond call provision that is not practiced even after several years of issuance is classified as $......$

Under diminishing balance method, depreciation is charged on:

Which one of the following statements is not correct?

Profit under single entry system of Book Keeping means $......$