11th Principles of Accounting MCQS Chapter 2

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11th Principles of Accounting MCQS
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Ledger Records Transaction in a/an
Arithmetical Order
Analytical Order
Daily order
Chronological Order

The process of recording business transaction in the journal is called
Journalizing
Posting
Classifying
Entry

A Ledger is a book in which
Only Real Accounts are Opened
Only Nominal Accounts are Opened
Only Personal & Cash Accounts are Opened
All Real, Nominal and Personal Accounts are Opened

Book-keeping is mainly concerned with:
None of the above
Interpreting the recorded data
Recording classifying and summarizing the recorded data
Recording of business transactions

The first successful step of Double Entry System is
Trial Balance
Leger
Final Account
Journal

All the transactions recorded to credit sales are recorded in:
Debtor’s book
Cash book
Sales book
Sale return book

Record of business transaction in the journal is called
Summary
Entry
Narration
Detail

In case of a debt becoming bad, the amount should be credited to
cash a/c
Sales a/c
Bad Debts a/c
Debtor’s a/c

Left hand side of an account is called
Debit Side
Credit Side
Both a & b
None of these

Debit Signifies
Decrease in Liability Account
All of the Above
Decrease in Capital Account
Increase in Asset Account

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