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CONTENTS
Accountancy
Commerce
Economics
Statistics
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Question-1
In a Journal these are ___________ column
(A)
4
(B)
3
(C)
5
(D)
7
Question-2
Purchase account will always show a ___________ balance.
(A)
Credit
(B)
Debit
(C)
Unbalance
(D)
None of these
Question-3
Credit balance of nominal account represent
(A)
Expense
(B)
Gains or income
(C)
Debtor
(D)
Creditor
Question-4
If the Credit side of an account exceeds the debit side the balance is said to be
(A)
Credit
(B)
Debit
(C)
Nil
(D)
None of these
Question-5
____________ is the life blood of accounting records.
(A)
Voucher
(B)
Journal
(C)
Ledger
(D)
Final accounts
Question-6
Purchase account is closed by writing the words __________ in particular column on the credit side.
(A)
'To trading A/c'
(B)
'By trading A/c'
(C)
Both of these
(D)
None of these
Question-7
Each page is a ledger is known as
(A)
Journal
(B)
Entry
(C)
Account
(D)
None of these
Question-8
In the beginning of every accounting period, a journal entry is passed to record the opening balances of all the assets and liabilities, this entry is called __________.
(A)
Closing entry
(B)
Rectification entry
(C)
Opening entry
(D)
Compound entry
Question-9
Find out the odd one and state reason
(A)
Second entry
(B)
Principal book
(C)
Life blood of accounting records
(D)
Prime entry
Question-10
Ledger accounts provide the ground work for the preparation of
(A)
Final accounts
(B)
Financial statement
(C)
Both a and b
(D)
None of these
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Plus 1 Commerce
Tamil Nadu (English Medium)
Practice in Related Chapters
Introduction to Accounting
Conceptual Frame work of Accounting
Basic Accounting Procedures I - Double Entry System of Book-Keeping
Basic Accounting Procedures II- Journal
Basic Accounting Procedures III- Ledger
Subsidiary Books I- Cash Book
Bank Reconciliation Statement
Trail Balance and Rectification of Errors
Capital and Revenue Transactions
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