'Cash withdrawn by the proprietor from the business for his personal use' causes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

Real account deals with  

(a)

Individual persons

(b)

Expenses and losses

(c)

Assets

(d)

Incomes and gains

Prepaid rent is a  

(a)

Nominal A/c

(b)

Personal A/c

(c)

Real A/c

(d)

Representative personal A/c

In double entry system of book keeping, every business transaction affects  

(a)

Minimum of two accounts

(b)

Same account on two different dates

(c)

Two sides of the same account

(d)

Minimum three accounts

________ is prepared in three copies.

(a)

Debit Note

(b)

Credit Note

(c)

Receipts

(d)

Invoice

A debit note is called as _______

(a)

debit memo

(b)

credit memo

(c)

pay-in-slip

(d)

receipts

_________ is a negotiable instrument.

(a)

Cheque

(b)

Cash

(c)

Discount

(d)

Premium

Accounting equation is a ____ expression which. shows that the total of assets is equal to the total liabilities and capital.

(a)

scientifical

(b)

mathematical

(c)

social

(d)

all the above

Transactions relating with individuals or firms or companies are known as _______

(a)

personal accounts

(b)

real accounts

(c)

nominal accounts

(d)

capital accounts

The word journal has been derived from the French word 'Jour' Jour means _________

(a)

Cash

(b)

Money

(c)

Day

(d)

None of these