Purchase of vegetables for use at home is not business transaction.
Accountancy

Quiz
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Other
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9th Grade
•
Medium
Ryan c
Used 11+ times
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13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All ________ transactions are recorded in the books of accounts
business
personal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting is the language of the ____________
business
finance
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of accounting?
a) Personal judgements influence it.
b) Helps in keeping systematic records.
c) Acts as a reliable evidence.
d) Shows permanent record of business.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a limitation of Accounting?
a) Ascertaining value of business.
b) It is influenced by personal judgments.
c) It helps in ascertaining right amount of taxes.
d) Facilitates a comparative study
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is a correct statement related to book-keeping?
a) Book keeping is summarizing and analyzing of business transactions, financial in nature.
b) Book keeping is posting transactions in the ledger.
c) Book keeping is recording business transactions in an orderly manner
d) None of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Book-Keeping is recording:
a) All events affecting a business.
b) All business transactions.
c) Only business transactions with outsiders.
d) Only internal business transaction.
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