Quiz on Meaning and Fundamentals of Double Entry Book-Keeping

#1. Every debit has corresponding ………………………..

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

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

#4. Goodwill is …………… asset.

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

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

#7. Prepaid Expenses is ………… account.

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

#9. Bank of India is a …………… account.

#10. Loan A/c is a ………. account

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

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

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

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

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

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

#17. Machinery Account is …………. Account.

#18. Capital account is a Real account

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

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

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