Accounting Basics

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Accounting Basics

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G Suresh

India

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Accounting Basics


Froggy Jumps Accounting BasicsVersión en línea Accounting Basics por G Suresh 1 Accounting is the language of ........................... a Money b Business c Accounting 2 The first step in accounting is .............. a Classifying b Summarizing c Recording 3 All business transactions have to be recorded in terms of ......................... a Money b Service c Journal 4 Accounting is the art of a Analyzing, classifying and recording b Recording, Classification and Summarizing c Classifying, Summarizing and Recording 5 ....................... aspect of a transaction is known as debit a Giving Aspect b Buying Aspect c Receiving Aspect 6 ....................... aspect of a transaction is known as credit a Giving Aspect b Receiving Aspect c Buying Aspect 7 Outstanding Salary a Natural Person b Representative Personal Account c Artificial Person 8 In Nominal Account Debit all ................... and Credit all ............................... a Incomes and Gains, Expenses and Losses b Expenses and Losses, Incomes and Gains c Expenses and Incomes, Losses and Gains 9 Real Accounts deals with a Fixed Assets b Current Assets c Assets 10 Every transaction must have atleat ..................... Aspect a 2 b 3 c 4 11 Capital a Amount invested by the owner b Amount withdrew for personal use c Both 12 Intangiable Assets have a Physical Existence b No Physical Existence c Both 13 Purchases of Furniture must be debited to a Purchases A/c b Furniture A/c c Cash A/c 14 Debtors a The person who sold goods to the company on credit b The person who gives to loan (credit) to the company c The person who buys goods from the company on credit 15 Creditors a The person who sold goods to the company on credit b The person who gives to loan (credit) to the company c The person who buys goods from the company on credit 16 The amount withdrawn from bank for office use is credited to a Cash A/c b Drawings A/c c Bank A/c 17 Assets = a Capital - Liabilities b Liabilities - Capital c Liabilities+Capital 18 Journal is the book of a Secondary Entry b Original Entry c Journal folio 19 Discount allowed is to be a Debited b Credited c Neither debit nor credit 20 Contra entry consits of a Cash Entry b Bank Entry c Both 21 Petty cash book is maintained by a Cashier b Main Cashier c Petty Cashier 22 Which of the following books is a special book a Journal b Subsidiary Books c Ledger 23 In purchase and Sales book we enter only the a Cash Transactions b Credit Transactions c Cash and Credit Transactions 24 Received a cheque from Mr.A a Mr.A. A/c Dr To Bank A/c b Bank A/c Dr To Mr.A A/c c Mr.A to Cash 25 Discount Received is to be a Credited b Deibted c Both

Accounting Basics

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Accounting BasicsVersión en línea

por G Suresh

Accounting is the language of ...........................

The first step in accounting is ..............

All business transactions have to be recorded in terms of .........................

Accounting is the art of

....................... aspect of a transaction is known as debit

....................... aspect of a transaction is known as credit

Outstanding Salary

In Nominal Account Debit all ................... and Credit all ...............................

Real Accounts deals with

Every transaction must have atleat ..................... Aspect

Capital

Intangiable Assets have

Purchases of Furniture must be debited to

Debtors

Creditors

The amount withdrawn from bank for office use is credited to

Assets =

Journal is the book of

Discount allowed is to be

Contra entry consits of

Petty cash book is maintained by

Which of the following books is a special book

In purchase and Sales book we enter only the

Received a cheque from Mr.A

Discount Received is to be