Students and Teachers Forum

1. When the business sells goods on cash, ______

"cash comes .....

2. The business returns goods to its supplier if the goods are ______.

"all the options are .....

3. When the goods are purchased on credit, purchase account is debited and the ______ account is credited.

.....

4. If the owner withdraws cash from the business for his personal use, he becomes ______.

.....

5. When capital is invested to start a business, ______ the business.

"cash comes .....

6. Which one of them is the correct equation?

"Assets= Liabilities + .....

7. ______ does not exist in the business in real form. It appears only in the books.

"Nominal .....

8. ______ is the record of assets of the business.

"Real .....

9. The rule of journalizing in personal account is ______.

"debit the receiver, credit the .....

10. Which of the following statements is incorrect In the double entry accounting system maintained manually?

"A journal entry should always consist of a single debit entry matched by a corresponding credit .....

11. Journal entries are the systematic order record of financial transaction in the ______.

.....

12. ______ does not exist in the business in real form. It appears only in the books.

"Nominal .....

13. ______ is the record of assets of the business.

"Real .....

14. The rule of journalizing in personal account is ______.

"debit the receiver, credit the .....

15. If a company uses special journal, purchase of supplies on the account should be recorded in which journal?

"Purchases .....

16. If a company uses special journals, credit sales should be recorded in which journal?

"Sales .....

17. If a company uses special journal, cash sales should be recorded in which journal?

"Cash receipts .....

18. Which of the following statements is incorrect In the double entry accounting system maintained manually?

"A journal entry should always consist of a single debit entry matched by a corresponding credit .....

19. The amount receivable from the customers against the good sold on credit is called ______.

.....

20. Assets are classifies into ______.

"2 .....

21. Bills payable, creditors, bank overdraft, expenses are some of the examples of ______.

"short term .....

22. The amount of money payable by the business to the outsiders normally after a period of one year is called ______.

"long term .....

23. The liabilities are classified into ______.

"2 .....

24. The amount of money invested by an owner in the beginning or during the life of the business is known as ______.

.....

25. Which one of them is the feature of double entry book-keeping system?

"All the options are .....

26. "Double entry system is the system under which each transaction is regarded to have two fold aspects and both the aspects are recorded to obtain complete record of dealings." Who defined it?

"Juneja, Chawla and .....

27. "The specific technique which reflects the concept of duality is known as double entry book- keeping." Who gave this definition?

"Lewis and .....

28. “Single- entry system is a method employed for recording transactions, which ignores the two fold aspects and consequently, fails to provide the business man with information necessary for him to be able to ascertain the position.” Who gave this definition?

"R. N. .....

29. “Single entry system is a system of book- keeping in which, as a rule, the records of only cash and personal accounts are maintained. It is always incomplete double- entry system varying with circumstances.” Who gave this definition?

.....

30. The practice of book keeping was started during ______.

"700 .....

31. The practice of book keeping was started with the invention of money in ______.

"Lydia, .....

32. "Debit all expenses and losses, credit all incomes and gains" is the rule of which account?

"Nominal .....

33. "Debit what comes in, credit what goes out" is the rule of which account?

"Real .....

34. "Debit the receiver, credit the giver" is the rule of which account?

"Personal .....

35. "An accounting system is a means of collecting, summarizing, analyzing and reporting in monetary terms, information about the business." Who gave this definition?

"R. N. .....

36. ______ is the art of recording, classifying and summarizing the transactions and events of a business and interpreting the results thereof.

.....

37. Which one of them is the objective of book-keeping?

"All the options are .....

38. "Book- keeping is the art of recording business dealings in a set of books." Who gave this definition?

"J. R. .....

39. Book keeping is the science and art of correctly recording in books of accounts, all those business transactions that result in the transfer of money or money worth." Who gave this definition?

"R.N. .....

40. In order to achieve the stated objectives, an organization requires utilizing its ______ in the best possible manner.

"all the options are .....

41. ______ is the art of recording, classifying and summarizing the transactions and events of a business and interpreting the results thereof.

.....

42. Liability accounts will normally have __________ balances.

.....

43. What is fill handle?

Fill handle is a command that lets us fill data into spreadsheet cells, that is based on a pattern we establish. For example, we can use this command to continue a series of numbers, text combinations, or .....

44. What do you mean by sorting in Excel?

Sorting refers to the arrangement of the data records in the ascending or descending order on the basis of numeric or alphabetic .....

45. Define formula and function in Excel.

A formula in Excel is an entry that consists of values, address or range of cells, functions and operators. Functions are ready made formulas provided by Excel. They are calculation tools that make our work .....

46. List the types of cell reference to its definition.

There are three types of cell reference which are as follows: Relative cell reference: Relative referencing means that the cell address changes as you copy or move it; i.e. the cell reference is relative to its location. Absolute cell reference: .....

47. What do you mean by merge cell?

Merge cell is a function in the database software that allows multiple adjacent cells to combine into a single .....

48. Define Ms-Excel. Write any two advantages of Ms-Excel.

Microsoft Excel is the popular Windows spreadsheet program that provides worksheets, charts, database and list operations, and application programming all in one software environment. Any two advantages of Ms-Excel are as follows: We can easily .....

49. What do you mean by  transitions?

Transitions are effects that are seen when you switch from one slide to .....

50. What do you mean by slide animation?

Slide animation effects are predefined special effects that you can add to objects on a .....