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Accountancy
Business Studies
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English I
Economics
English II
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Question-1
Sales account will always show a ________ balance
(A)
Debit
(B)
Credit
(C)
None of these
(D)
All of these
Question-2
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
Question-3
Sales returns account always represent ___________ balance.
(A)
Debit
(B)
Credit
(C)
No Balance
(D)
None of these
Question-4
A person who owes another for receiving goods and Services on credit.
(A)
Debtor
(B)
Creditor
(C)
None of these
(D)
All of these
Question-5
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-6
In a Journal these are ___________ column
(A)
4
(B)
3
(C)
5
(D)
7
Question-7
Ledger is also known as _________ entry.
(A)
Original entry
(B)
Second entry
(C)
First entry
(D)
None of these
Question-8
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-9
__________ contains narrations.
(A)
Ledger
(B)
Journal
(C)
Final Balance
(D)
Final a/c
Question-10
__________ is known as the principal book under double entry system.
(A)
Journal
(B)
Voucher
(C)
Final account
(D)
Ledger
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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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