Quiz on Meaning and Fundamentals of Double Entry Book-Keeping

#1. Loan A/c is a ………. account

#2. Income received in advance is a …………… account.

#3. Every debit has corresponding ………………………..

#4. Capital account is a Real account

#5. Loose Tools account is a ………… account.

#6. Income – tax account is a …………… account .

#7. In every business transaction there must be minimum ……….. effects.

#8. Debit what comes in, Credit what …………………

#9. Debit the receiver, Credit the …………………

#10. Prepaid Expenses is ………… account.

#11. Trade Mark A/c is a ………….. account

#12. Debit all ……………….. and credit all incomes and gains

#13. Deshinama System is another name for …………….. System of accounting.

#14. Machinery Account is …………. Account.

#15. Radha’s Account is a type of …………. Account.

#16. Bank of India is a …………… account.

#17. Live stock A/c is a …………… account

#18. Goodwill is …………… asset.

#19. International Accounting day is observed on ………..

#20. Conventional system of accounting is……………

Finish

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