Master Accounting Concepts: 20 MCQ Quiz on Single Entry System, Bank Reconciliation Statement and Net Worth Method
Accounting Quiz: Single Entry System, BRS & Net Worth Method Keywords: Single Entry System MCQs, Bank Reconciliation Statement quiz, Net Worth method accounting questions, Outstanding cheques and deposit in transit questions, cash book vs pass book MCQs — crafted to help CMA/CA/CS/B.Com aspirants and blog traffic using long‑tail keywords. Q21. Under single entry system in net worth method drawing is added in : Opening Capital Closing Capital Additional Capital Cash Correct: Closing Capital . In the net worth (capital comparison) method, drawings reduce owner’s equity and are therefore added back to the closing capital when adjusting for profit calculation or comparing opening and closing capitals. Q22. Credit Sale can be obtained by preparing: Cash Book Debtors Account Creditors Account Statement of Affairs Correct: Debtors Account . Credit sales are re...