Under single entry system, certain transactions are recorded :

Related MCQs

• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• In single entry two-fold aspect of transaction are not recorded, so it is:
• Procedure of conversion of Single entry books into Double entry
• A Statement of assets and liabilities prepared under the single entry system is called:
• The statement of profit or loss is prepared according to _______ method to calculate profit or loss under single entry system
• Under single entry system , drawings is _____ to know gross profit
• Statements of assets & liabilities prepared under single entry system is called:
• Under single entry system details of
• Under single entry system, only personal accounts are kept and in some cases:
• Under single entry system the main account book kept is