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Test: Journal Entries - 3


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30 Questions MCQ Test Crash Course of Accountancy - Class 11 | Test: Journal Entries - 3

Test: Journal Entries - 3 for Commerce 2022 is part of Crash Course of Accountancy - Class 11 preparation. The Test: Journal Entries - 3 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Journal Entries - 3 MCQs are made for Commerce 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Journal Entries - 3 below.
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Test: Journal Entries - 3 - Question 1

Proprietor’s Account is ________Account.

Test: Journal Entries - 3 - Question 2

Cash account is a 

Test: Journal Entries - 3 - Question 3

The Rule ‘Debit all expenses & losses and Credit all incomes & gains’ relates to: 

Test: Journal Entries - 3 - Question 4

 Equipments are : 

Test: Journal Entries - 3 - Question 5

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is 

Test: Journal Entries - 3 - Question 6

 In case of a debt becoming bad and doubtful, the amount is credited to _________?

Detailed Solution for Test: Journal Entries - 3 - Question 6

When a debt becomes bad and doubtful the following entry is passed:
Bad Debts A/c Dr.
To Debtors A/c
( Being bad debts written off)

Test: Journal Entries - 3 - Question 7

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

Test: Journal Entries - 3 - Question 8

Narration is given along with journal entry:

Test: Journal Entries - 3 - Question 9

 Recovery of bad debts written off previously will be ?

Test: Journal Entries - 3 - Question 10

 Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09? 

Test: Journal Entries - 3 - Question 11

Profit is : 

Test: Journal Entries - 3 - Question 12

Inventory.

Test: Journal Entries - 3 - Question 13

Outstanding Salary is a : 

Test: Journal Entries - 3 - Question 14

 Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be: 

Test: Journal Entries - 3 - Question 15

Which account is the odd one out?

Test: Journal Entries - 3 - Question 16

Purchase of second-hand computer on credit by a cloth merchant will be recorded in: 

Test: Journal Entries - 3 - Question 17

 Rs. 1500 withdrawn for personal use should be debited to ______

Test: Journal Entries - 3 - Question 18

Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be: 

Test: Journal Entries - 3 - Question 19

Outstanding Salary is a : 

Test: Journal Entries - 3 - Question 20

Debit the expenses or losses, credit all incomes and gains, is the rule for:

Test: Journal Entries - 3 - Question 21

 Value of goods drawn by proprietor should be credited to:

Test: Journal Entries - 3 - Question 22

 In Double Entry System of Book-keeping every business transaction affects:

Test: Journal Entries - 3 - Question 23

Recovery of bad debts written off previously will be ?

Test: Journal Entries - 3 - Question 24

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is 

Detailed Solution for Test: Journal Entries - 3 - Question 24

When the proprietor withdraws goods for personal use of Rs 10,000 it should be credited/deducted from the stock while calculating cost of goods sold and hence are deducted from purchases.  

Test: Journal Entries - 3 - Question 25

Equipments are : 

Test: Journal Entries - 3 - Question 26

Debit the receiver and credit the giver is correct for. 

Test: Journal Entries - 3 - Question 27

The rent paid to landlord is credited to:

Test: Journal Entries - 3 - Question 28

Consider the following statements and identify the wrong statement.

Test: Journal Entries - 3 - Question 29

Rent account.

Test: Journal Entries - 3 - Question 30

Which of the following is not a real account?

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