Quiz on Meaning and Fundamentals of Double Entry Book-Keeping
#1. Capital account is a Real account
#2. Goodwill is …………… asset.
#3. Loose Tools account is a ………… account.
#4. Deshinama System is another name for …………….. System of accounting.
#5. In every business transaction there must be minimum ……….. effects.
#6. Income – tax account is a …………… account .
#7. International Accounting day is observed on ………..
#8. Conventional system of accounting is……………
#9. Trade Mark A/c is a ………….. account
#10. Prepaid Expenses is ………… account.
#11. Debit all ……………….. and credit all incomes and gains
#12. Debit what comes in, Credit what …………………
#13. Debit the receiver, Credit the …………………
#14. Radha’s Account is a type of …………. Account.
#15. Income received in advance is a …………… account.
#16. Every debit has corresponding ………………………..
#17. Machinery Account is …………. Account.
#18. Bank of India is a …………… account.
#19. Live stock A/c is a …………… account
#20. Loan A/c is a ………. account
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