CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Nature Of Accounts And Rules Of Debit And Credit Quiz 1 - MCQExams.com

An international reserve asset created by the IMF taking into account the global need to supplement existing reserves is called ______________.
  • Quota
  • International Monetary Right
  • Special Drawing Rights
  • None of the above
Bad debts written off is an example of ___________.
  • Increase in Asset & Owner's Liability
  • Decrease in Asset & Owner's Liability
  • Increase in Liability & Owner's Liability
  • Decrease in Liability & Increase in Owner's Liability
  • Increase in Liability & Decrease in Owner's Liability
The term 'Debt' is derived from Latin word_________.
  • debere
  • debonare
  • debtor
  • none of these
Debit means _________.
  • Decrease in asset
  • Increase in liability
  • An entry on the left hand side of an account
  • Moderate increase in liability
Which one of the following is an example of personal account?
  • Capital account
  • Building account
  • Cash account
  • Investment account
The basic rule of book-keeping, debit the receiver and credit the giver is applicable to ________________.
  • Nominal account
  • Real account
  • Personal account
  • Drawing account
Any written document in support of a business transaction is called a ___________.
  • Voucher
  • Bill
  • Carbon Copy
  • Expense Bill
How many sides does an account have?
  • One
  • Two
  • Three
  • Four
Insurance unexposed account is ________.
  • Real Account
  • Personal Account
  • Nominal Account
  • Representative Account
The process of recording financial transactions in the journal is called ___________.
  • Journalizing
  • Utilizing
  • Posting
  • Balancing
Receipts and payments account is a _____________.
  • Personal Account
  • Nominal Account
  • Real Account
  • Representative Account
Journal is known as book of _________ entry.
  • Original
  • Duplicate
  • Personal
  • Nominal
Insurance unexpired accounts is a _____________.
  • Real account
  • Personal account
  • Nominal account
  • None of these
Identify which is the wrong rule?
  • Nominal account - debit all expenses & losses
  • Real account - credit what comes in
  • Nominal account - credit all incomes & gains
  • Personal account - debit the receiver
What comes in is to be debited, what goes out is to be credited?
  • Rules of Personal
  • Rules of Real
  • Rules of Nominal
  • All of these
Which of the following is not an example of real A/c?
  • Machinery
  • Building
  • Cash
  • Creditor
Provision for doubtful debts account is a ________.
  • Asset
  • Liability
  • Income
  • None of these
Interest, rent, electricity bill are types of _______ account.
  • Personal a/c
  • Impersonal a/c
  • Real a/c
  • Nominal a/c
Jay account is a __________ account.
  • Nominal account
  • Personal account
  • Real account
  • Trading account
Salary account is by its nature a _________.
  • Real Account
  • Nominal Account
  • Personal Account
  • Trading Account
"Debit the receiver credit the giver"is the rule for _____________.
  • Real account
  • Personal account
  • Nominal account
  • None of these
The word 'Credit' means _________.
  • What is
  • What ought to be
  • Due to that
  • Due for that
Journal means _______________.
  • A daily record of business transactions
  • Book of original entry
  • Both (A) and (B)
  • Purchase book
Outstanding salary account is a _______ account.
  • Nominal account
  • Real account
  • Artificial person's account
  • Representative personal account
A book containing a chronological record of business transaction & original record is called a _________.
  • Journal
  • Ledger
  • Trial balance
  • None of the above
Which of the following is usually in the 'T' format and contains two sides?
  • Journal
  • Account
  • Ledger
  • Subsidiary books
Match List-I with List-II and select the correct answer using the codes given the lists:
List-I(Types of accounts)List-II(Principles)
I. Real Accounts(a) Debit the receiver credit the giver
II. Nominal Accounts(b) Debit what comes in credit what goes out
III. Personal Accounts(c) Debit all expenses,losses credit all incomes,gains
  • I-(c), II-(b), III-(a)
  • I-(a), II-(c), III-(b)
  • I-(b), II-(c), III-(a)
  • I-(a), II-(b), III-(c)
The word 'Debit' means __________.
  • Due to that
  • Due for that
  • 'What is'
  • What ought to be
Journal is a book of ____________.
  • Primary entry
  • Original entry
  • Duplicate entry
  • Primary or original entry
Small firms may adopt _________.
  • The subsidiary book system
  • Journal system
  • Ledger
  • None of these
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers