M.C.Q (1 Marks)

MCQ 11 Mark

When closing capital is less than opening capital, it denotes:

A
Profit.
B
Loss.
✓
Loss, if there is no drawing.
D
None of the above.

Answer

Correct option: C.

Loss, if there is no drawing.

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MCQ 21 Mark

Generally accounts under single entry sytem are maintained by :

✓
Sole Trader.
B
Company.
C
Society.
D
Government.

Answer

Correct option: A.

Sole Trader.

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MCQ 31 Mark

If Capital at the end of the year is $₹ 40,000$; Capital introduced during the year $₹ 30,000$: drawings for the year $₹ 20,000$ and loss for the year is $60,000$, then Capital at the beginning of the year was :

✓
$₹ 90,000$
B
$₹ 80,000$
C
$₹ 70,000$
D
$₹ 10,000$

Answer

Correct option: A.

$₹ 90,000$

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MCQ 41 Mark

Single Entry System of book keeping is:

A
Inaccurate
B
Unsystematic
C
Unscientific
✓
All of these.

Answer

Correct option: D.

All of these.

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MCQ 51 Mark

When closing capital is more than opening capital, it denotes:

A
Profit.
B
Loss.
C
No Profit no loss.
✓
Profit, if there is no introduction of fresh capital.

Answer

Correct option: D.

Profit, if there is no introduction of fresh capital.

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Account M.C.Q (1 Marks)

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