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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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Attempt Test: Journal Entries - 3 | 30 questions in 30 minutes | Mock test for Commerce preparation | Free important questions MCQ to study Crash Course of Accountancy - Class 11 for Commerce Exam | Download free PDF with solutions
QUESTION: 1

Proprietor’s Account is ________Account.

Solution:
QUESTION: 2

Cash account is a 

Solution:
QUESTION: 3

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

Solution:
QUESTION: 4

 Equipments are : 
Solution:
QUESTION: 5

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is 
Solution:
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:
Solution:
QUESTION: 8

Narration is given along with journal entry:
Solution:
QUESTION: 9

 Recovery of bad debts written off previously will be ?
Solution:
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 : 
Solution:
QUESTION: 12

Inventory.
Solution:
QUESTION: 13

Outstanding Salary is a : 
Solution:
QUESTION: 14

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

Which account is the odd one out?
Solution:
QUESTION: 16

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

 Rs. 1500 withdrawn for personal use should be debited to ______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

Capital of business is Rs. 75,000 and liability is Rs. 25,000 then total assets of business would be: 
Solution:
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:
Solution:
QUESTION: 21

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

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

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

Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use.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

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.  

QUESTION: 25

Equipments are : 
Solution:
QUESTION: 26

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

The rent paid to landlord is credited to:
Solution:
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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