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

The left side of an account is known as _________ and the right side as ____________.
  • Debit, Credit
  • Credit, Debit
  • Liability, Asset
  • None of the above
Bank account is _____________.
  • Personal account
  • Real account
  • Nominal account
  • Intangible real account
Vouchers can be displayed in
  • Accounts info
  • Day book
  • inventory info
  • Ledger
In which of the following order, data is entered into the Journal?
  • Alphabetical order
  • Numeric order
  • Bullets order
  • Chronological order
The books to be compulsorily maintained by a company are ______________.
  • Cash book and ledger
  • Sales and purchase book
  • Journal
  • All of the above
Which of the following transactions will result in decrease in assets and decrease in liabilities?
  • Payment of a promissory note with cash
  • Materials returned to supplier on account
  • Redemption of debentures
  • All of these
The debit balance of a personal account shows the ______________.
  • Amount of credit sales
  • Cash in hand
  • Amount payable
  • Amount receivable
Which of the following accounts is increased by debit entries?
  • Machinery account
  • Discount earned account
  • Purchase Return account
  • All of these
  • None of these
Which of the following transactions results in increase in shareholders' equity and decrease in liabilities?
  • Issued shares for the purchase of land and building.
  • Issued shares for acquisition of another company.
  • Shares issued in payment of bills payable.
  • Issued bonus shares.
Debit - all expenses and losses 
Credit - all gains and income is the rule for_______________.
  • Real account
  • Personal account
  • Nominal account
  • None of these
Fixed Deposit Account is _________.
  • Real
  • Personal
  • Nominal
  • All of the above
While preparing the annual financial statements, the balance of rent account should be treated as the balance of a __________.
  • Personal Account
  • Nominal Account
  • Real Account
  • Deferred Expenditure Account
Which of the followings is not a book of original entry?
  • Cash book
  • Ledger
  • Sales journal
  • Bill receivable book
To determine the details of a specific transaction, one should refer to ____________.
  • Ledger
  • Book of original entry
  • Relevant vouchers
  • None of the above
When it is necessary to analyse transactions in terms of debit and credit ?
  • While Journalizing.
  • While Posting.
  • At both times.
  • None of the above.
Deposits with MSEB ___________.
  • Real
  • Nominal
  • Personal
  • All of the above
Debit may signify __________.
  • Increase in asset account
  • Decrease in asset account
  • Increase in a liability account
  • Increase in capital account
Drawings Account is ___________.
  • Real
  • Personal
  • Nominal
  • All of the above
Sundry Income Account is _______.
  • Real
  • Personal
  • Nominal
  • All of the above
Transaction related to assets are recorded in __________.
  • Real account
  • Personal account
  • Nominal account
  • None of the above
Credit may signify _________________.
  • Decrease in assets
  • Increase in liability
  • Increase in capital account
  • All of these
Loss by Fire Account __________.
  • Real
  • Personal
  • Nominal
  • All of the above
Outstanding expenses Account is ___________.
  • Real
  • Nominal
  • Personal
  • All of the above
Accrued/prepaid/received in advance/outstanding a/c are known as __________.
  • Nominal a/c
  • Real a/c
  • Representative personal a/c
  • Tangible a/c
A cash disbursement may result in ___________.
  • Reduction in liability
  • Increase in other asset
  • Reduction in one asset and increase in other asset
  • All of the above
When a debtor is realized which account is credited _________.
  • cash a/c
  • miscellaneous income a/c
  • debtor a/c
  • profit and loss a/c
Increase in owner's equity can be caused by ____________________.
  • profit from a successful business operation
  • fresh investment made by the owner
  • bringing in new asset in the business
  • all of the above
Sub-division of journal is known as _______ book.
  • Subsidiary
  • Purchase return
  • Purchase
  • Journal proper
Cash withdrawal by the proprietor would cause _______.
  • Cash in hand to decrease
  • External liability to decrease
  • Total liabilities to increase
  • Total assets remain unchanged
Wages paid for installation of asset should be debited ___________  A/c.
  • Wages
  • Asset
  • Cash
  • Suspense
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers