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Questions for Chapter 11 Accounts of Incomplete Records

Question 1
What do you mean by Incomplete Record?

Question 2
Give two features of Incomplete Record?

Question 3
Give two reasons for keeping Incomplete Record?

Question 4
Give two limitations of keeping Incomplete Record?
Question 5

State two account maintained in an account from incomplete records.
Question 6

What is the common objective of single entry system and the double-entry system?
Question 7

Which accounting principle is followed under single entry and also in double entry system?
Question 8

Which accounting principle is neglected under single entry and followed in double entry system?
Question 9
Which two methods are used in determining profit and loss in a single entry system?

Question 10
The single entry system account is maintained by.

1. Sole Trader
2. Company

3. Society
4. Government

Question 11
Single entry system of bookkeeping is.
1. Inaccurate

2. Unsystematic
3. Unscientific

4. All of these
Question 12

When closing capital is more than opening capital, it denotes.
1. Profit

2. Loss