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Question-1
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-2
The amount by which the entries on one side of an account exceed the entries on the other side of the account is termed as __________.
(A)
Posting
(B)
Balance
(C)
Entry
(D)
Journalising
Question-3
Trial balance can be prepared with the help of ____________.
(A)
Journal
(B)
Voucher
(C)
Ledger
(D)
All of these
Question-4
Sales account will always show a ________ balance
(A)
Debit
(B)
Credit
(C)
None of these
(D)
All of these
Question-5
Ledger is the book for ________ record.
(A)
Chronological
(B)
Analytical
(C)
None of these
(D)
All of these
Question-6
The record of transaction in the journal is called ________.
(A)
Posting
(B)
Journalising
(C)
Balancing
(D)
Entry
Question-7
The pages of ledger are numbered consecutively and called_________.
(A)
Journal folio
(B)
Ledger folio
(C)
None of these
(D)
All of these
Question-8
Credit balance of nominal account represent _________.
(A)
Expense
(B)
Gains or income
(C)
Debtor
(D)
Creditor
Question-9
__________ is known as the principal book under double entry system.
(A)
Journal
(B)
Voucher
(C)
Final account
(D)
Ledger
Question-10
________ 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
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Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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