Quiz on Meaning and Fundamentals of Double Entry Book-Keeping

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

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

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

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

#5. Live stock A/c is a …………… account

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

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

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

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

#10. Machinery Account is …………. Account.

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

#12. Goodwill is …………… asset.

#13. Capital account is a Real account

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

#15. Loan A/c is a ………. account

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

#17. Every debit has corresponding ………………………..

#18. Prepaid Expenses is ………… account.

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

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

Finish

Results