Accountancy - 9

        Who is considered to be the internal use of the financial information?

•    Employee

• Creditor

• Customer

• Government

     The profounder of double entry system of book keeping is

• JR Batlibai    

• Luca Pacioli

• Old Kesal

• Menhar

      Accounting equation signifies……..

•      Capital of a business is equal to assets

•     Liabilities of a business are equal to assets

•        Capital of a business is equal to liabilities

• Assets of a business are equal to total of capital and liabilities

       Main objective of preparing ledger account is to …….

•      Ascertain the financial position

•       Ascertain the profit or loss

•     Ascertain the profit or loss and the financial position

• Know the balance of each ledger account.

       Trial balance is a …….

•      Statement

• Account

• Ledger 

• Journal

    Purchases book is used to record….

•       All purchases of goods

•      All credit purchases of assets

•      All credit purchases of goods

•      All purchases of assets

  The source document or voucher used for recording entries in sales book is …….

•       Debit note   

• Credit note

• Invoice

• Cash receipt

     Cash book is ……

•        Subsidiary book  

• Principal book

• Journal proper 

• Both subsidiary book and principal book

    Single column cash book is also called ……..

• Simple cash book

• two column cash book   

• bills book   

•      petty cash book

        A bank reconciliation statement is prepared by …….

• Bank

• Business

• Debtors to the business  

• Creditors to the business