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Published on: 06/11/2020
12th Standard Accounts - Accounts From Incomplete Records English Medium Free Online Test One Mark Questions 2020 - 2021
Download Tamil Nadu 12th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Accountancy Test
1.
A business is said is to be used _____________ system. It is not following the complete the principles of book keeping of ___________ system.
Double Entry - Single Entry
Single Entry - Double Entry
Double Entry - Double Entry
Single Entry - Single Entry
2.
Following are the limitations of incomplete records except _________________
Lack of proper maintenance of records
Difficulty in preparing trial balance
Difficulty in ascertaining true profitability of the business
Suitability
3.
If adjusted closing capital is more than the opening capital, it denotes ____________
Profit
Loss
Opening Capital
Expenses
4.
Debtors on 31.12.2014 is Rs. 2,00,000. Cash received from debtors during the year is Rs. 3,00,000. Then the credit sales during the year is __________
Rs. 1,00,000
Rs. 2,00,000
Rs. 3,00,000
Rs. 5,00,000
5.
Which one is correct
Adjusting Closing Capital = Closing capital + Drawings - Additional Capital
Adjusting Closing Capital = Closing capital - Drawings - Additional Capital
Adjusting Closing Capital = Additional Capital + Drawings - Closing Capital
None of these
6.
When capital in the beginning is Rs. 10,000, drawings during the year is Rs. 6,000, profit made during the year is Rs. 2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end
Rs. 9,000
Rs. 11,000
Rs. 21,000
Rs. 3,000
7.
Which one of the following statements is not true in relation to incomplete records?
It is an unscientific method of recording transactions
Records are maintained only for cash and personal accounts
It is suitable for all types of organisations
Tax authorities do not accept
8.
Which of the following items relating to bills payable is transferred to total creditors account?
Opening balance of bills payable
Closing balance of bills payable
Bills payable accepted during the year
Cash paid for bills payable
9.
Opening statement of affairs is usually prepared to find out the
Capital in the beginning of the year
Capital at the end of the year
Profit made during the year
Loss occurred during the year
10.
Incomplete records are generally maintained by
A company
Government
Small sized sole trader business
Multinational enterprises
1.
(b)
Single Entry - Double Entry
2.
(d)
Suitability
3.
(a)
Profit
4.
(d)
Rs. 5,00,000
5.
(a)
Adjusting Closing Capital = Closing capital + Drawings - Additional Capital
6.
(a)
Rs. 9,000
7.
(c)
It is suitable for all types of organisations
8.
(c)
Bills payable accepted during the year
9.
(a)
Capital in the beginning of the year
10.
(c)
Small sized sole trader business
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Tamilnadu Stateboard 12th Standard Subjects
Maths
Chemistry
Physics
Biology
Computer Science
Business Maths and Statistics
Economics
Commerce
Accountancy
History
Computer Applications
Biology
Computer Technology
Computer Applications
Computer Science
Business Maths and Statistics
Commerce
Economics
Maths
Chemistry
Physics
Computer Technology
History
Accountancy
Tamil
English
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