WorksheetsACCOUNTS BASICS
Total questions: 20
Worksheet time: 10mins
DEBIT WHAT COMES IN,
CREDIT WHAT GOES OUT.
REAL RULE
PERSONAL RULE
NOMINAL RULE
DEBIT ALL EXPENSES AND LOSSES,
CREDIT ALL INCOMES AND GAINS.
PERSONAL RULE
NOMINAL RULE
REAL RULE
WHAT DURATION OF CURRENT LIABILITY IS?
LESS THAN 1 YEAR
MORE THAN 1 YEAR
MORE THAN 5 YEARS
MORE THAN 10 YEARS
WHAT IS BAD DEBT FOR THE BUSINESS?
AN EXPENSE
AN INCOME
A LOSS
A PROFIT
WHAT IS THE DONATION FOR THE BUSINESS?
EXPENSE
INCOME
PROFIT
LOSS
WHAT IS NON-CASH EXPENSES OF BUSINESS?
ROYALTY
TRADE DISCOUNT
DONATION
DEPRECIATION
WHAT IS CREDITOR?
ASSEST
LIABILITY
FOR BUSINESS DEBTOR IS?
CURRENT ASSET
CURRENT LIABILITY
HOW MANY TYPES OF ASSETS & LIABILITIES ARE THERE?
3
4
2
1
WHAT IS MEANT BY GOODS?
REGULAR DEALS OF BUSINESS
IRREGULAR DEALS OF BUSINESS
NONE OF THE ABOVE
BOTH
HOW MANY TYPES OF PURCHASES?
2
1
3
4
WHAT ARE THE TYPES OF SALES
CREDIT SALES & CASH SALES
CASH SALES & DEBIT SALES
DEBIT SALES AND CREDIT SALES
NONE
WHICH IS THE WRITTEN DOCUMENT FOR BUSINESS?
VOUCHER
NOTES
STATEMENT
RECEIPT
HOW MANY TYPES OF BUSINESS TRANSACTIONS ARE THERE?
ONE
TWO
THREE
FOUR
CASH RECEIVED BY CHANDANI OF RS. 50,0000 AGAINST HER ORDER. WHICH TYPE OF TRANSACTION IS THIS?
CASH
CREDIT
EXCHANGE
NON ECONOMIC
WHICH ONE IS NOT EXCHANGED THROUGH CREDIT TRANSACTION?
CASH
GOODS
ASSETS
SERVICE
WHICH PERSONS ARE INCLUDED IN NATURAL PERSON?
LIVE PERSONS
ARTIFICIAL PERSON
RELIGIOUS PERSONS
POLITICAL PERSONS
WHICH ONE IS THE PILLAR OF ACCOUNTS?
JOURNAL
LEDGER
VOUCHER
TRANSACTON
OWNER BRINGS CASH, GOODS AND ASSETS INTO THE BUSINESS IS CALLED?
CAPITAL
DRAWING
WHAT KIND OF TAX IS GST?
DIRECT
INDIRECT
COMMON
EXCISE
