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Test: Journal Entries - 3


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


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This mock test of Test: Journal Entries - 3 for Commerce helps you for every Commerce entrance exam. This contains 30 Multiple Choice Questions for Commerce Test: Journal Entries - 3 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Journal Entries - 3 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Journal Entries - 3 exercise for a better result in the exam. You can find other Test: Journal Entries - 3 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

Proprietor’s Account is ________Account.

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QUESTION: 2

Cash account is a 

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QUESTION: 3

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

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QUESTION: 4

 Equipments are : 
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QUESTION: 5

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is 
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QUESTION: 6

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

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)

QUESTION: 7

A withdrawal of cash from business by the proprietor should be credited to:
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QUESTION: 8

Narration is given along with journal entry:
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QUESTION: 9

 Recovery of bad debts written off previously will be ?
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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? 
Solution:
QUESTION: 11

Profit is : 
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QUESTION: 12

Inventory.
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QUESTION: 13

Outstanding Salary is a : 
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QUESTION: 14

 Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be: 
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QUESTION: 15

Which account is the odd one out?
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QUESTION: 16

Purchase of second-hand computer on credit by a cloth merchant will be recorded in: 
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QUESTION: 17

 Rs. 1500 withdrawn for personal use should be debited to ______
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QUESTION: 18

Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be: 
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QUESTION: 19

Outstanding Salary is a : 
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QUESTION: 20

Debit the expenses or losses, credit all incomes and gains, is the rule for:
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QUESTION: 21

 Value of goods drawn by proprietor should be credited to:
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QUESTION: 22

 In Double Entry System of Book-keeping every business transaction affects:
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QUESTION: 23

Recovery of bad debts written off previously will be ?
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QUESTION: 24

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is 
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QUESTION: 25

Equipments are : 
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QUESTION: 26

Debit the receiver and credit the giver is correct for. 
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QUESTION: 27

The rent paid to landlord is credited to:
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QUESTION: 28

Consider the following statements and identify the wrong statement.
Solution:
QUESTION: 29

Rent account.
Solution:
QUESTION: 30

Which of the following is not a real account?
Solution:

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