Bought Typewriter for cash, in this transaction which account has been debited ?
Cash
Purchase
Typewriter
None of the above
Loan taken Rs. 100,000. Find out which account will be credited.
Cash A/c
Drawing A/c
Interest on loan A/c
Lenders loan A/c
Paid salary to Madan, in this transaction which account has been debited ?
Salary A/c
Madan A/c
The function of narration is _______ .
To show whether an entry has been posted or not
To represent a cross reference
To check every transaction
To given a very brief statement of the facts
Recording a transaction in the Journal is known as ______.
Ledger
Journal
Journalising
Final A/c
Which account shows the owner’s financial position as regards the business he carries on ?
Goods A/c
Capital A/c
In which transaction the exchange is complete ?
Cash transaction
Credit transaction
Both a and b
All drawing must be accounted for and this is done by _____ a separate to drawing A/c
Debiting
Crediting
Both a & b
Goods distributed as free sample, in this transaction which account is credited ?
Advertisement A/c
Purchases A/c
Sales A/c
Find out the Rule for Real account from the following.
Debit the receiver, credit the giver
Debit what comes in and credit what goes out
Debit all expenses and losses
