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Accountancy
Commerce
Economics
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Question-1
________ 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-2
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-3
Sales returns account always represent ___________ balance.
(A)
Debit
(B)
Credit
(C)
No Balance
(D)
None of these
Question-4
__________ contains narrations.
(A)
Ledger
(B)
Journal
(C)
Final Balance
(D)
Final a/c
Question-5
__________ is known as the principal book under double entry system.
(A)
Journal
(B)
Voucher
(C)
Final account
(D)
Ledger
Question-6
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-7
Purchase account will always show a ___________ balance.
(A)
Credit
(B)
Debit
(C)
Unbalance
(D)
None of these
Question-8
A __________ is divided into two equal part.
(A)
Account
(B)
Ledger
(C)
Journal
(D)
Transaction
Question-9
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-10
In a Journal these are ___________ column
(A)
4
(B)
3
(C)
5
(D)
7
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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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