CBSE Class 11 Accountancy HOTs Accounts from Incomplete Records

CBSE Class 11 Accountancy Chapter 11 Incomplete Records Fill In The Blanks 

Question. …….principle is followed by single entry system.
Answer. Money measurement

Question. Single entry system of accounting is comparatively ……… expensive.
Answer. Less

Question. Trade payable account is of ………nature.
Answer. Personal

Question. Capital 6,00,000 ,Liability is rs.235000 then Assets=……….
Answer. 835000

Question. Credit sales during the year is Rs. 5000 , balance of opening trade receivables was Rs.3000 ,goods of Rs. 500 returned by customer as defective, closing trade receivables will be ……….
Answer. 7,500

CBSE Class 11 Accountancy Chapter 11 Incomplete Records True and False

1. Credit purchase can be ascertained as the as the balancing figure in total debtor account.False
2. Big business houses usually use single entry system. False
3. Single entry system is a unsystematic method of recording. True
4. Money measurement concept is followed in single entry system. True
5. Accrual concept is strictly followed in single entry system. False

CBSE Class 11 Accountancy Chapter 11 Incomplete Records MCQs

Question. Credit purchase can be ascertained as the balancing figure of accounts
a. Total creditors account
b. Total debtors accounts
c. Cash account
d. Statement of affair
Answer. (A)

Question. What is the reason behind using single entry system
a. Less expensive
b. Suitable for small concern
c. Simple method
d. All of the above
Answer. (D)

Question. What is the feature of single entry system
a. Lack of uniformity
b. Suitability
c. Depends on original voucher
d. All of the above.
Answer. (D)

Question. Credit sale can be ascertained as the balancing figure of accounts
a. Total creditors account
b. Total debtors accounts
c. Cash account
d. Statement of affair
Answer. (B)

CBSE Class 11 Accountancy Chapter 11 Incomplete Records Match The Following

Question.  
i) Single entry system is generally used by      a) Company         
ii) Principle is not followed by single                 b) Matching principle
entry system
                                                                         c) Dual aspect principle
                                                                         d) Small traders
Answer.  D & C

Question.
i) Single entry system does not reflect          a) Proper rules and principles
ii) Single entry system does not follow          b) True financial position
                                                                      c) Internal Check System
Answer. B & A

Question.
i) In single entry system which accounts       a) Real Account
are not prepared
ii) In single entry system the accounts          b) Personal Account
are not accepted by
                                                                      c) Court of Law
Answer.  A & C

Questions

Question. What do you mean by Incomplete Record?
Answer : Incomplete record refers to those records which are not arranged according to the principles of double-entry.

Question. Give two reasons for keeping Incomplete Record?
Answer : The two reasons for keeping incomplete record are.
• Convenient Method- It is an easy and uncomplicated method of registering the company’s transactions as it does not demand any individual knowledge of the principles of double-entry
• Limited resources required – Since only cash book and few ledger accounts are recorded in this system, the staff required for support is also smaller as compared to the double-entry system.

Question. State two account maintained in an account from incomplete records.
Answer : The two account maintained in an account from incomplete records are.
• Cash account
• Personal Account

Question. Which accounting principle is followed under single entry and also in double entry system?
Answer : Money Measurement Concept

Question. Which two methods are used in determining profit and loss in a single entry system?
Answer : The two methods are used in determining profit and loss in a single entry system are.
• Statement of Affairs Method
• Conversation Method

Question. Single entry system of bookkeeping is.
1. Inaccurate 2. Unsystematic 3. Unscientific 4. All of these
Answer : All of these

Question. Can a limited company maintain its account under single entry system?
Answer : No, a limited company maintain its account under single entry system.