Foundation PN-2 Accounts and Cost Quiz 2

1. If a receipt of ₹ 200 from rajesh (debtor) has not been recorded in the books the profits would show

2. Goods worth ₹ 272 returned by Lala passed through the books as ₹722. The rectification entry is

3. Errors of carry forward from one year to another affects :

4. Sales of Shyam of ₹ 500 not recorded in the books would affect :

5. A Trial Balance will not tally if :

6. Whenever errors are noticed in the accounting records, they should be rectified :

7. A Ledger is also called :

8. The process of transfer of entries from day book to ledgers is called :

9. Ledger contains various in it :

10. In an Account if debit > credit side, the balance is known as the

11. The process of recording business transactions in a book of original entry is known as

12. A Trial Balance shows

13. A trial balance will not balance if

14. The debts written off as bad, if recovered subsequently are

15. Which financial statement represents the accounting equation- Assets = Liabilities + Owner’s equity:

16. The rent paid to landlord is credited to :

17. The process of transfer of entries from day book to ledgers is called :

18. Ledger contains various           in it :

19. Rent Account is :

20. A withdrawal of cash from business by the proprietor should be credited to :

21. A sale of goods to Ram for cash should be debited to:

22. In an Account if debit > credit side, the balance is known as the :

23. Prepaid rent is a :

24. The process of recording business transactions in a book of original entry is known as

25. S.B.I Account is a …