CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Nature Of Accounts And Rules Of Debit And Credit Quiz 3 - MCQExams.com

Every debit has equal corresponding credit.
  • True
  • False
Profit on Sale of Furniture Account __________.
  • Real
  • Nominal
  • Personal
  • All of the above
Discount received is a personal account.
  • True
  • False
Recording two fold effects of each transaction in the journal is called journalisation.
  • True
  • False
Narration is not necessary for each and every journal entry. 
  • True
  • False
If rent is paid to the landlord, Landlord's A/c should be debited.
  • True
  • False
If the goods are sold, the entry should be recorded in the journal. 
  • True
  • False
A journal voucher is must for all transactions recorded in the journal.
  • True
  • False
Journal is a book of secondary entry. 
  • True
  • False
Bank of Maharastra A/c is a Nominal A/c.
  • True
  • False
Live stock a/c is a nominal a/c.
  • True
  • False
________ is concerned with the recording process of accounting.
  • Ledger
  • Preparation of profit and loss a/c
  • Journalising
  • Balancing and ledger
Goods withdrawn by the proprietor from business is debited to the Drawings A/c.
  • True
  • False
In technical term a cash memo is called a cash voucher.
  • True
  • False
Journal is maintained for keeping random individual records of business transactions. 
  • True
  • False
Source document are useful to record business transactions in the books of accounts.
  • True
  • False
Sales accounts always shows ________ balance.
  • Debit
  • Credit
  • Adverse
  • Specific
State whether the following statement is True or False
On credit sale of goods,Goods A/c is to be credited.
  • True
  • False
Cash memo is used for credit purchase/sale.
  • True
  • False
Narration is written just above an entry. 
  • True
  • False
Ledger is known as the book of original entry.
  • True
  • False
A voucher is a document in support of an entry in the books of account.
  • True
  • False
The word 'Credit' is derived from Latin word ________ .
  • cradate
  • crude
  • credential
  • credere
Credit purchases of goods is credited to personal account. 
  • True
  • False
State whether the following statement is True or False
Insured goods lost by fire is debited to Goods A/c.
  • True
  • False
Book of original entries is also known as ______.
  • Invoice book
  • Journal
  • Debit/credit notebook
  • Ledger
The following comments below relate to the recording of journal entries. Which statement is true?
  • For any given journal entry, debits must exceed credits.
  • It is customary to record credits on the felt and debits on the right
  • The chart of accounts reveals the amount to debit and credit to the affected accounts
  • Journalization is the process of converting transactions and events into debit/credit format.
_______ accounts relates to persons, debtors, creditors etc.
  • Personal a/c
  • Real a/c
  • Nominal a/c
  • Impersonal a/c
Which side represent credit _____ .
  • Left
  • Right
  • Side having larger total
  • Side having shorter total
In an account prepared under Double entry system ____ prefix suggest that the concerned account is credited.
  • to
  • by
  • balance cd
  • balance bd
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers