Foundation PN-2 Accounts and Cost Quiz 2

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

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

Errors of carry forward from one year to another affects :

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

A Trial Balance will not tally if :

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

A Ledger is also called :

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

Ledger contains various in it :

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

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

A Trial Balance shows

A trial balance will not balance if

The debts written off as bad, if recovered subsequently are

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

The rent paid to landlord is credited to :

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

Ledger contains various           in it :

Rent Account is :

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

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

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

Prepaid rent is a :

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

S.B.I Account is a …