MCQ Questions for CBSE Class 9 Elements of Book Keeping and Accountancy Quiz with Answers

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Multiple Choice Questions for Class 9th Elements of Book Keeping and Accountancy Quiz with Answers

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Accounting Equation Effects Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Accounting Equation Effects Questions and Answers

Accounting Equation Effects Quiz Question Answer
Which is the accounting concept that required the practice of crediting closing stock to the trading account? Matching
Assets in the balance sheet are shown at cost less depreciation rather than their replacement cost because of which accounting convention? Going concern
Which is the basis for several business transaction? Going concern concept
Accounting does not record non-financial transactions because of ________________. Measurement concept
Revenue is considered as being earned, when _________. Sale is effected
The policy to anticipate no profit and provide for all possible losses arises due to convention of ___________. Conservatism
Revenue is generally recognized being earned at the point of time when __________. Sale is affected
According to money measurement concept, which one of the following will be recorded in the books of accounts ___________________. Cost of machinery
Stock is valued at ___________. Cost or market price whichever is lower
According to which of the following concepts even the owner of the business who provides capital is treated as a creditor of the business? Entity concept.

Introduction To Book Keeping And Accounting Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Introduction To Book Keeping And Accounting Questions and Answers

Introduction To Book Keeping And Accounting Quiz Question Answer
Information is said to be relevant if it is _______. Free from bias
Which of the following would be considered as external users of accounting information's? Shareholders
Financial account records only __________. Actual figures
The prime objective of accounting is to _________________.
 Classifying and recording business transaction
____________ provides information for income determination. Financial accounting
____________ is the oldest branch of accounting. Financial Accounting
Financial accounting use ________. Historical data
Financial accounting is concerned with recording of _______________. Day to day business transactions
The appropriate objective of an enterprise is _________. Maximisation of business wealth
Which of the following statements about differences between financial and managerial accounting is incorrect?
 Managerial accounting information is prepared primarily for martial parties such as stockholders and creditors; financial accounting is directed at internal users

Journal Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Journal Questions and Answers

Journal Quiz Question Answer
A sale of goods of vidhya for cash should be debited to ______________. Cash account
Under purchase method of amalgamation, _______ of the transferor company continues to appear in the balance sheet of the transferee company.  Statutory reserve
Return of goods by a customer should be debited to __________. Sales Return Account
The amount brought in by the proprietor in the business should be credited to ____________. Capital Account
Interest on capital is credited to ___________ account. Capital
A withdrawal of cash from business by the proprietor of the firm should be debited to ___________. Drawing Account
A credit sale of goods to Shiva should be debited to ____________. Shiva's account
Account current is a journal. False
Goods of the value of Rs. 1500 taken by the proprietor for his personal use should be debited to _______________. Drawing account
Sales made to Mahesh for cash should be debited to ________. Cash account

Ledger Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Ledger Questions and Answers

Ledger Quiz Question Answer
Book of analytical record is ___________. Ledger
If there is a debit balance in ledger accounts than ___________. debit side of an account exceeds the credit side
Ledger is also called  ___________. Principal Book of Accounts
Balancing of account means total of debit and credit side. False
Totalling of journal and ledger is called as_____.  Casting
The 'Statement of Affairs' is prepared on the basis of _______________. Ledger Accounts and estimates.
In book-keeping posting means, __________. to record the transactions from the journal to ledger
The ______________ in a ledger helps in locating the accounts contained in it. Folio
Which of the following accounts is increased by debit entries? Machinery account
Posting implies recording of a transaction in journal.
 False

Nature Of Accounts And Rules Of Debit And Credit Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Nature Of Accounts And Rules Of Debit And Credit Questions and Answers

Nature Of Accounts And Rules Of Debit And Credit Quiz Question Answer
An international reserve asset created by the IMF taking into account the global need to supplement existing reserves is called ______________.
 Special Drawing Rights
Bad debts written off is an example of ___________. Decrease in Asset & Owner's Liability
The term 'Debt' is derived from Latin word_________. debere
Debit means _________. An entry on the left hand side of an account
Which one of the following is an example of personal account? Capital account
The basic rule of book-keeping, debit the receiver and credit the giver is applicable to ________________. Personal account
Any written document in support of a business transaction is called a ___________. Voucher
How many sides does an account have? Two
Insurance unexposed account is ________. Personal Account
The process of recording financial transactions in the journal is called ___________. Journalizing

Recording And Posting Of Cash Transactions Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Recording And Posting Of Cash Transactions Questions and Answers

Recording And Posting Of Cash Transactions Quiz Question Answer
Contra entry appears in ______________. Cash book
Rs $$3,50,000$$ cash paid to creditors for settlements of credit purchases will be recorded in _______________. Cash Book
Cash book is prepared on..... Cash basis
Book keeping is meant to show all the transactions. Of the accounting period
The balance of the Petty Cash Book is ___________. An asset
The credit balance in the bank account is_______. A liability
A Cheque received and paid into the bank on the same day is recorded in the ____________. Bank column of the cash book
Cash book prepared on imprest system is_________. Petty Cash Book
The discount column of a triple column cash book records __________. Cash discount
The cash book records ____________. All cash receipts and payments

Trial Balance Class 9 Elements Of Book Keeping And Accountancy MCQ Quiz

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Trial Balance Questions and Answers

Trial Balance Quiz Question Answer
A Trial balance is an Account. False
A trial balance contains the balances of ______________________. All accounts
A statement containing the various ledger balances on particular date:
 Trial balance
Which of the following account balance will be shown on debit side of Trial Balance? Cash a/c
The trial balance ensures________.
 Arithmetical accuracy of the accounts maintained
Preparation of trial balance helps in the deduction of ___________. Clerical Errors
The preparation of a trial balance helps in locating ______________. Clerical Errors
Name the methods in which trial balance can be prepared. All of the above.
Preparation of a trial balance helps in locating __________. Clerical errors
Totals method does not help in assuming _________of balances of various accounts. Accuracy

CBSE Class 9th Elements of Book Keeping and Accountancy Sample Paper MCQ Questions with Answers

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