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Class 11 Accounts
Journal Quizz
Quiz 1
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DEBIT signifies:A. Increase in Assets accountB. Decrease in Liability accountC. Decrease in Capital accountD. All of the above
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Bank overdraft account is a :A. Personal accountB. Real accountC. Nominal accountD. Representative personal account
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Purchase of second- hand computer on credit by a cloth merchant will be recorded in:A. JournalB. Cash BookC. Purchase BookD. None of the above
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Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited isA. Sales A/cB. Drawing A/cC. Purchases A/cD. Expenses A/c
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Cash account is aA. Personal accountB. Real accountC. Nominal accountD. None of the above
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‘A’ owed Rs. 25,000 to ‘B’ ‘A’ becomes insolvent. ‘B’ got A’s computer valuing Rs. 11,500 in his full settlement. Journal Entry will be passed in the books of ‘B’.A. Purchase A/c Dr. 11,500 To A 11,500B. Computer Dr. 11,500 Bad-debts Dr. 13,500 To A 25,000C. Computer A/c Dr. 25,000 To A 25,000D. Computer A/c Dr. 11,500 Purchases A/c Dr. 13,500 To A 25,000
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Debit the receiver and credit the giver is correct for.A. PersonalB. RealC. NominalD. Hypothetical
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Unexpired expenses is ______account.A. RealB. NominalC. PersonalD. Representative Personal
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Recovery of bad debts written off previously will be ?A. Credited to debtors A/cB. Adjusted against provision for doubtful debtsC. Debited to debtors A/cD. Credited to Profit and Loss A/c
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The rule regarding PERSONAL ACCOUNT is :A. Debit what comes in, credit what goes out.B. Debit all expenses and losses, credit all incomes and gainsC. Debit the receiver, credit the giverD. None
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Sunset Tours has a Rs. 3,500 account receivable from Mohan. On January 20, the Rotary makes a partial payment of Rs. 2100 to Sunset Tours. The journal entry made on January 20 by Sunset Tours to record this transaction includes:A. A credit to the cash received account of Rs. 2,100.B. A credit to the Account receivable account of Rs. 2,100.C. A debit to the cash account of Rs. 1,400.D. A debit to the Account receivable account of Rs. 1,400.
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The rent paid to landlord is credited to:A. Landlord`s AccountB. Rent AccountC. Cash AccountD. None of these
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In case of bad debts, which account is credited?A. Bad debts AccountB. Creditors AccountC. Debtors AccountD. None of these
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Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be:A. Rs. 1,00,000B. Rs. 15,000C. Rs. 75,000D. Rs. 50,000
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Narration is given along with journal entry:A. To signify the impact of entry on profitability.B. To disclose the profit or loss of the transaction.C. To give a precise explanation for proper understanding of the entry.D. To secretly understanding the inner meaning of entries.
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Which account is the odd one out?A. Office furniture & EquipmentB. Freehold land and BuildingsC. Inventory of materialsD. Plant and Machinery
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Salaries are :A. RevenueB. ExpenseC. AssetD. Liability
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Accounts payable :A. RevenueB. ExpenseC. AssetD. Liability
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Proprietor accountA. PersonalB. RealC. NominalD. None of the above
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“Debit the receiver and credit the giver” is the golden rule for which type of account?A. Real A/cB. Personal A/cC. Nominal A/cD. None of these
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