Self Studies

Recording of Tr...

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  • Question 1
    1 / -0

    A voucher refers to a/an __________. 

  • Question 2
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    A second-hand car is purchased for Rs. 80,000, the amount of Rs. 1,000 is spent on its repairs, Rs. 500 is incurred to get the car registered in owners name and Rs. 1,500 is paid as dealers commission. The amount debited to car account will be __________.

  • Question 3
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    If the premium is paid on the life policy of the proprietor of the business, it is _____________.

  • Question 4
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    On 31st Dec. 2006 assets of the business are Rs.3,00,000 and its capital is Rs.1,00,000. Its liabilities on that date will be __________.

  • Question 5
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    How does depreciation effect basic accounting equation

  • Question 6
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    The rule for nominal accounts is ____________.

  • Question 7
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    Which of the following would prevent double payment of the same voucher?

  • Question 8
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    The creditors accounts, generally, have credit balance. Debit balance may be due to _________. 

  • Question 9
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    An increase in one liability may lead to _________________.

  • Question 10
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    Which of the following is (are) benefits of subsidiary ledger accounts to business?

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