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- 1. Multiple Choice
........ is the book in which transaction are first recorded in chronological order
Ledger
Journal
Profit and Loss A/c
Cash Book
- 2. Multiple Choice
.......... means explanation of the transactions recorded in the Journal.
Narration
Journalising
Posting
Casting
- 3. Multiple Choice
The .......... Column of the Journal is not recorded at the time of Journalising.
Date
Particulars
Ledger Folio
Amount
- 4. Multiple Choice
........... Discount is not recorded in the books of accounts.
Trade Discount
Cash Discount
GST
VAT
- 5. Multiple Choice
Goods sold on credit should be debited to..........
Purchase A/c
Customer A/c
Sales A/c
CAsh A/c
- 6. Multiple Choice
The commission paid to the agent should be debited to.....................
Drawing A/c
Cash A/c
Commission A/c
Gent A/c
- 7. Multiple Choice
Loan Taken from Dena Bank should be credited to.......
CApital A/c
Dena BAnk A/c
Cash A/c
Dena Bank Loan A/c
- 8. Multiple Choice
Cash purchase of goods from Gopal should be debited to:
Gopal A/c
Cash A/c
Purchases A/c
Sales A/c
- 9. Multiple Choice
The basic rule of book-keeping, "Debit the Receiver and Credit The Giver"is applicable to:
Personal A/c
Real A/c
Nominal A/c
Valuation A/c
- 10. Multiple Choice
Real Account are related to:
Assets
Customer
Expenses
None
- 11. Multiple Choice
The basic rule of book-keeping, "Debit all expenses and Credit all incomes", is applicable to
Personal A/c
Real A/c
Nominal A/c
None
- 12. Multiple Choice
Goods of the value of Rs.100, withdrawn by the owner for his private use, should be credit to:
Sales A/c
Drawings A/c
Purchases A/c
Expenses A/c
- 13. Multiple Choice
A sum of Rs.300 paid to Vinod for repair of furniture should be debited to:
Furniture A/c
Repair A/c
Vinod A/c
Cash A/c
- 14. Multiple Choice
Trade Discount allowed to customers on sale should be debited to:
Trade Discount Account
Customer's Account
Sales Account
None of These
- 15. Multiple Choice
In Book-keeping "credit" means:
An entry on the right hand side of an account
Increase in Asset
Decrease in Liability
None
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