CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Nature Of Accounts And Rules Of Debit And Credit Quiz 5 - MCQExams.com

Journal is called............
  • Subsidiary book
  • Daily stock register
  • Log book
  • Primary book
Rs 1200 being advance income tax of the proprietor paid by the firm is treated as ______.
  • Business expense
  • Drawing
  • Business tax of the firm
  • Loss
___________ is not a subsidiary book.
  • Sales day book
  • Purchase day book
  • Cash book
  • Purchase Account
Narrations are usually given at the end of..........
  • Each journal entry
  • Each page
  • Each column
  • Each account
Books of original entry is also known as _______.
  • Invoice book
  • Journal
  • Debit/Credit note book
  • Ledger
...... is the document supporting the veracity of a transaction.
  • voucher
  • RR
  • Acknowledgement
  • Debit/credit memo
Tick the correct statement 
  • Trade discount is not recorded in the books of A/c
  • If a transaction is left to be recorded wholly or partially it is an error of principle
  • Purchase journal is opened for all types of purchases.
  • The amount of total sales can be ascertained from Debtors A/c
Goods worth Rs 3000 were purchased on which the trader allowed Rs 200 as trade discount and 5% as cash discount if paid immediately. Purchase a/c will be debited by _____.
  • Rs 3000
  • Rs 2800
  • Rs 2750
  • Rs 2660
Real accounts are related to _____________.
  • Assets
  • Expenses, losses and incomes
  • Debtors, creditors etc.
  • All of the above
Which of the following is not a book of original entry?
  • The Journal
  • The Ledger
  • The Cash Book
  • The Bill Receivable Book
.......is the brief explanation why a particular account has been debited or credited.
  • Narraton
  • Explanatory notes
  • Notes to accounts
  • Footnotes
Vouchers include
  • Receipt , Cash Memo
  • Invoices, Bills
  • Cheque, counterfoil
  • All the three
Personal accounts are related to ________.
  • Assets and liabilities
  • Expenses, loses and incomes
  • Debtors, creditors etc.
  • All of the above
Main object of preparing a 'Journal' is to __________.
  • ascertain the financial position of the business
  • journalise the cash transactions
  • make posting in the ledger
  • record the business transactions first of all
State with reasons whether following statements are True or False:
Cash Account may show credit balance.
  • True
  • False
Outstanding Expenditure is a nominal account.
  • True
  • False
Capital brought in by the proprietor will result in _______________.
  • Increase in asset and increase in Capital
  • Increase in liability and decrease in asset
  • Increase in asset and decrease in liability
  • Increase in one asset and decrease in another asset
The process of recording a transaction in the journal is called __________.
  • Posting
  • Journalising
  • Tallying
  • Casting
Payment of salary is recorded by ________________.
  • Debiting salary A/c Crediting cash A/c
  • Debiting cash A/c Crediting salary A/c
  • Debiting employee A/c Crediting cash A/c
  • Debiting employee A/c Crediting salary A/c
Nominal Accounts are related to ____________.
  • assets and liabilities
  • expenses, losses and incomes
  • debtors, creditors etc.
  • All of the above
Which of the account is debited?
  • Income received in advance
  • Bank loan
  • Prepaid insurance premium
  • Reserve for doubtful debts
Bills Receivable Book is a part of the ___________.
  • ledger
  • balance sheet
  • journal
  • profit and loss account
What do you mean by credit?
  • An increase in asset
  • An increase in liability
  • A decrease in liability
  • A decrease in proprietor's equity
Patent Right is ________ account.
  • personal 
  • real 
  • nominal 
  • expense 
What do you mean by debit?
  • An increase in asset
  • An increase in liability
  • A decrease in asset
  • An increase in proprietor's equity
Credit balance of a nominal account shows _____________.
  • Expenses in the business
  • Loss in the business
  • Income in the business
  • Assets of the business
Which of the following is an example of personal account?
  • Machinery
  • Rent
  • Cash
  • Creditor
Which of the following statements is true?
  • Building account in a nominal account
  • Outstanding rent account is a non-personal account
  • Every debit has a corresponding credit
  • Incomes are debited
Wages paid to Mohan for erecting a machine should be credited to __________.
  • wages A/c
  • machine A/c
  • Mohans A/c
  • cash A/c
The rent paid to landlord is credited to ________________.
  • Landlord's account
  • Rent account
  • Cash account
  • None of these
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers