Download App

Final Accounts of a Proprietary Concern — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyFinal Accounts of a Proprietary Concern2 Marks
Question
In every adjustment at least there are three effects.
✓

Answer

This statement is False.
There are at least two effects in every adjustment of final accounts.

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 "State whether the following statements are true or false with reasons" from Final Accounts of a Proprietary Concern→Final Accounts of a Proprietary Concern — all question types→Book Keeping & Accountancy STD 11 Commerce / Arts question papers→Maharashtra Board STD 11 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

Assets = Capital + Liabilities
→
Only Cash and Personal accounts are maintained under the Single Entry System.
→
It is not necessary to depreciate an asset if it is not in use.
→
Book-keeping is an art as well as a science.
→
In Book-keeping & Accountancy non-monetary transactions are also recorded.
→
Cash discount does not appear in the books of accounts.
→
The trading concern is established for rendering services to society.
→
All transactions are recorded directly in the ledger.
→
The cost or sacrifice which is incurred to run the business is known as an income.
→
Posting implies recording a transaction in a journal.
→