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