Third set of 10 questions on Accountancy-Class XI-Recording of Transaction . The accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing. The recording of financial transactions is also known as Bookkeeping.
Accountancy : Recording of Transaction
Transactions include sales, purchases, income, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. There are broadly two types of bookkeeping such as the Single-entry bookkeeping system and the Double-entry bookkeeping system.
0 of 10 questions completed
Click Start Quiz button to test your knowledge on $quizname
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
0 of 10 questions answered correctly
Time has elapsed
You have reached 0 of 0 points, (0)
thanks for being a part
1. Question1 points
Following Rule belongs to-“Debit what comes in; Credit what goes out”CorrectIncorrect
2. Question1 points
Account to be Debited for Goods returned by MohanCorrectIncorrect
3. Question1 points
What will be the amount of Capital if Cash is Rs. 20,000; Debtors are Rs. 10,000 and Creditors are Rs. 6,000CorrectIncorrect
4. Question1 points
Unrecoverable amount from coustomers is called:CorrectIncorrect
5. Question1 points
Credit Note is prepared by:CorrectIncorrect
6. Question1 points
For goods returned by Ram to Mohan, Ram will prepare:CorrectIncorrect
7. Question1 points
From the following which is Capital Expenditure:CorrectIncorrect
8. Question1 points
Which of the following is not a step in Accounting Process?CorrectIncorrect
9. Question1 points
From the following which is book of Original Entries:CorrectIncorrect
10. Question1 points
Account to be Credited for: Received Rs. 500/- from Ram, which was earlier written off as Bad Debts.CorrectIncorrect