USING ACCOUNTING SOFTWARE - Practice Mode

1) Which is the main book of final entry for accounts?
Correct Answer: Ledger
2) What is termed as excess of credit side total amount over debit side total amount in profit and loss account?
Correct Answer: Profit
3) Which book is used to record transactions relating to return of goods to suppliers?
Correct Answer: Purchase Return Book
4) Which is a statement of assets and liabilities?
Correct Answer: Balance sheet
5) Which accounting system is incomplete and unscientific?
Correct Answer: Single Entry System
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