McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 1. |
……………system of book keeping is the only scientific method to record farming transaction. |
| A. | Single entry |
| B. | Double entry |
| C. | Balance sheet |
| D. | Adjustment A/c |
| Answer» B. Double entry | |
| 2. |
In single entry system it’s difficult to detect |
| A. | Account |
| B. | Fraud. |
| C. | Profit. |
| D. | Gross profit |
| Answer» B. Fraud. | |
| 3. |
Single entry constitutes incomplete records rather than single entry |
| A. | credit. |
| B. | Profit. |
| C. | Accounting. |
| D. | Net profit |
| Answer» C. Accounting. | |
| 4. |
Under pure single entry system only……………..Account are kept. |
| A. | Personal |
| B. | double entry |
| C. | Assets |
| D. | None of these |
| Answer» A. Personal | |
| 5. |
Under the………………… entry system personal accounts, cashbook and other subsidiary books are kept separately. |
| A. | Pure single |
| B. | Quasi single |
| C. | Simple single |
| D. | Double entry |
| Answer» B. Quasi single | |
| 6. |
Accounting is mainly concerned with the future management planning. |
| A. | Personal. |
| B. | Quasi single entry |
| C. | Pure single entry |
| D. | Management |
| Answer» D. Management | |
| 7. |
In…………………entry system no records are kept for real or nominal Account. |
| A. | Quasi single |
| B. | pure single |
| C. | Simple single |
| D. | Double entry |
| Answer» B. pure single | |
| 8. |
Most of the farming transactions are transacted on ……………..basis. |
| A. | Double entry |
| B. | Creditors. |
| C. | Surplus. |
| D. | Cash |
| Answer» D. Cash | |
| 9. |
In single entry system it’s difficult to operate …………….system |
| A. | Pure single |
| B. | Single entry |
| C. | Internal control |
| D. | Quasi single |
| Answer» C. Internal control | |
| 10. |
In single entry system it’s difficult to exercise control over . |
| A. | Asset |
| B. | Management |
| C. | Single entry |
| D. | Pure single entry |
| Answer» A. Asset | |
| 11. |
Under…………… entry system, Personal Accounts and Cash Book are kept separately. |
| A. | Simple single |
| B. | Pure s ingle. |
| C. | Quasi single. |
| D. | Double entry |
| Answer» A. Simple single | |
| 12. |
Under statement of affairs method which is also termed as . |
| A. | Single entry system |
| B. | Quasi single entry system |
| C. | Capital comparison method |
| D. | Double entry system |
| Answer» C. Capital comparison method | |
| 13. |
If the closing capital is more than the opening capital it’s shows an increase in capital which means a …………… |
| A. | Profit. |
| B. | Shares. |
| C. | Account. |
| D. | Operating capital |
| Answer» A. Profit. | |
| 14. |
Under single entry system arithmetical accuracy of the Accounting records can be checked. |
| A. | true |
| B. | false |
| C. | may be false |
| D. | both a and b |
| Answer» B. false | |
| 15. |
Single entry system is mixture of single entry, double entry and no entry. |
| A. | true |
| B. | may be false |
| C. | only true |
| D. | none of the above |
| Answer» A. true | |
| 16. |
They record a few translation completely just like the double entry system but a majority of the transactions are recorded only partially is known as incomplete records. |
| A. | true |
| B. | false |
| C. | both a and b |
| D. | none of the above |
| Answer» A. true | |
| 17. |
Under single entry system the profit and loss can be found out and also it’s comparison will be available. |
| A. | true |
| B. | false |
| C. | both and b |
| D. | only false |
| Answer» B. false | |
| 18. |
Profit and losses can’t be ascertained because Trading and Profit and loss account can’t be prepared. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | may be false |
| Answer» B. false | |
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