Quiz on Meaning and Fundamentals of Double Entry Book-Keeping

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

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

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

#4. Bank of India is a …………… account.

#5. Live stock A/c is a …………… account

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

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

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

#9. Prepaid Expenses is ………… account.

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

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

#12. Goodwill is …………… asset.

#13. Machinery Account is …………. Account.

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

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

#16. Loan A/c is a ………. account

#17. Capital account is a Real account

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

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

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

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