E1E2Corporate accounts

___________ is the art of recording, classifying and summarizing in a significant manner.

• Accounting
• Financing
• Administration
• None of the above

What refers to posting the entries from Journal to the respective ledger accounts

• Recording
• Classifying
• Summarizing
• Reporting

What refers to making entries of all business transactions into the Journal/Subsidiary Book

• Recording
• Classifying
• Summarizing
• Reporting

What refers to preparation of Trial Balance out of all the ledger accouts

• Recording
• Classifying
• Summarizing
• Reporting

Preparation of profit and loss a/c, Balance Sheet referes to

• Recording
• Classifying
• Summarizing
• Reporting

The main object of Book Keeping is

• To know gain/loss
• To value assets and liabilities
• For comparison to similar business
• All of the above

When BSNL started its commercial operation

• 1 st October, 2000
• 1st April, 2001
• 1 January, 2001
• None of the above

Subsidiary ledgers are maintained to record details of various transactions to supplement the General ledger

• True
• False
• Partly True
• None of the above

Journal records

• Cash transactions
• Bank transactions
• Non-Cash transactions
• None of the above

Which of the following is not a basic accounting record

• Purchase Register
• Salary payable Register
• Bills payable Register
• Family Particulars of employee