_____ is an unscientific and unsystematic way of recording transactions.

(a)

Incomplete records

(b)

Complete records

(c)

Single entry system

(d)

Double entry system

_____ is a statement showing the balances of assets and liabilities on a particular date.

(a)

Statement of affairs

(b)

Trading account

(c)

Profit and loss account

(d)

Balance sheet

A statement of affairs resembles a _____

(a)

Trading account

(b)

Profit and loss account

(c)

Balance sheet

(d)

Trial balance

In _____ system, only personal and cash accounts are opened.

(a)

Single entry

(b)

Double entry

(c)

Trial balance

(d)

Balance Sheet

_____ maintains only personal and cash accounts.

(a)

Single entry system

(b)

Double entry system

(c)

Both (a) and (b)

(d)

None of these