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Commerce
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Question-1
Sales account is closed by writing the words __________ particular column on the credit side.
(A)
'By Trading A/c'
(B)
'To Trading A/c'
(C)
None of these
(D)
Both of these
Question-2
____________ is the life blood of accounting records.
(A)
Voucher
(B)
Journal
(C)
Ledger
(D)
Final accounts
Question-3
Debit balance of real account tells in what is the value of __________ on a particular date.
(A)
Asset
(B)
Liability
(C)
Income
(D)
Expenditure
Question-4
A __________ is divided into two equal part.
(A)
Account
(B)
Ledger
(C)
Journal
(D)
Transaction
Question-5
If the personal account shows debit balance it means that
(A)
The amount is owing
(B)
A debtor
(C)
Both a or b
(D)
None of these
Question-6
Sales account will always show a ________ balance
(A)
Debit
(B)
Credit
(C)
None of these
(D)
All of these
Question-7
________ accounts are those which are opened under the name of individual firm, company, institution etc.
(A)
Real
(B)
Nominal
(C)
Personal
(D)
None of these
Question-8
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-9
__________ is known as the principal book under double entry system.
(A)
Journal
(B)
Voucher
(C)
Final account
(D)
Ledger
Question-10
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
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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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