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CBSE
Class 11 Accountancy
Accounts From Incomplete Records
Quiz 1
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A system of accounting which is not based on double entry system is called-
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Cash system
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Mahajani system of accounting
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Incomplete accounting system
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None of these.
Explanation
Incomplete accounting system
Accounts which are maintained under single entry system-
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Personal accounts
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Impersonal accounts
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(a) & (b) both
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None of these.
Explanation
Personal accounts
Statement of affairs is prepared to-
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Know about assets
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Know about liabilities
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Calculate capital
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Know financial position.
Explanation
Calculate capital
Liabilities and assets amount to Rs. 50,000 and Rs. 78,000 respectively. The difference amount will represent-
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Creditors
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Debentures
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Profit
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Capital.
Explanation
Capital.
Generally incomplete records are maintained by-
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Trader
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Society
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Company
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Government.
Explanation
Trader
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