Books of Prime Entry - One Mark Questions

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 20
    15 x 1 = 15
  1. Accounting equation signifies _______

    (a)

    Capital of a business is equal to assets

    (b)

    Liabilities of a business are equal to assets

    (c)

    Capital of a business is equal to liabilities

    (d)

    Assets of a business always equal to the total of capital and liabilities

  2. 'Cash withdrawn by the proprietor from the business for his personal use' causes ____

    (a)

    Decrease in assets and decrease in owner's capital

    (b)

    Increase in one asset and decrease in another asset

    (c)

    Increase in one asset and increase in liabilities

    (d)

    Increase in asset and decrease in capital

  3. Real account deals with ______

    (a)

    Individual persons

    (b)

    Expenses and losses

    (c)

    Assets

    (d)

    Incomes and gains

  4. Which one of the following is representative personal account?

    (a)

    Building A/c

    (b)

    Outstanding salary A/c

    (c)

    Mahesh A/c

    (d)

    Balan & Co

  5. Withdrawal of cash from business by the proprietor should be credited to________

    (a)

    Drawings A/c

    (b)

    Cash A/c

    (c)

    Capital A/c

    (d)

    Purchases A/c

  6. ________ starts with identifying business transactions involving money or money's worth.

    (a)

    Accounting process

    (b)

    Accounting equation

    (c)

    Book keeping

    (d)

    Double entry system

  7. ____________ are recorded as and when they take place with the written and authentic proof.

    (a)

    Accounting equations

    (b)

    Transactions

    (c)

    Accountants

    (d)

    Book keeping

  8. ______ is used for credit purchases and credit sales.

    (a)

    Cash Receipt

    (b)

    Debit Note

    (c)

    Invoice

    (d)

    Credit Note

  9. ________ is prepared in three copies.

    (a)

    Debit Note

    (b)

    Credit Note

    (c)

    Receipts

    (d)

    Invoice

  10. _______ is prepared in duplicate and the original is sent to the seller.

    (a)

    Debit Note

    (b)

    Credit Note

    (c)

    Pay-in-slip

    (d)

    None of these

  11. Nominal account is classified under__________.

    (a)

    Personal A/c

    (b)

    Impersonal A/c

    (c)

    Neither of the two

  12. Drawings account is classified under __________.

    (a)

    Real A/c

    (b)

    Personal A/c

    (c)

    Nominal A/c

  13. Which of the following is correct accounting equation?

    (a)

    A=C-L

    (b)

    A=L-C

    (c)

    A=C+L

  14. Which of the following is correct?

    (a)

    L=A+C

    (b)

    L=A-C

    (c)

    L=C-A

  15. Which of the following is correct?

    (a)

    C=A-L

    (b)

    C=A+L

    (c)

    C=L-A

  16. 5 x 1 = 5
  17. Revenue account

  18. (1)

    Owner

  19. Increase in capital

  20. (2)

    Paid creditors

  21. Decrease in liability

  22. (3)

    Purchase of goods

  23. Expenses account

  24. (4)

    Rent received

  25. Capital account

  26. (5)

    Commence business

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