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Question
State True or False with reasons:
Preparation of Trial Balance is not possible under Single Entry System
Options
True
False
Solution
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RELATED QUESTIONS
Answer in one sentence only.
What do you mean by Single Entry System?
Answer in one sentence only.
Which types of accounts are normally not kept under the Single Entry System?
Answer in one sentence only.
Which statement is prepared under the Single Entry system to ascertain the capital balances?
Answer in one sentence only.
How Opening Capital is calculated under Single Entry System?
Answer in one sentence only.
Can a Trial Balance be prepared under Single Entry System?
Write a word, term, or phrase which can substitute the following statement.
System of Accounting normally suitable to small business organization.
Write a word, term, or phrase which can substitute the following statement.
Name of method of accounting suitable to firms to having limited transactions.
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Single Entry System may be useful for ________.
State True or False with reasons:
Single Entry System is not useful for large organization.
Do you agree with the following statement?
Real and Nominal accounts are not maintained under Single Entry System.
Do you agree with the following statement?
Single Entry System is based on certain rules and principles
Do you agree with the following statement?
Statement of Profit is just like Profit and Loss Account.
Fill in the blank:
Single Entry System is more popular for __________.
Interest in Drawings decreases the amount of profit under the Single Entry System.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
