MCQs of Accounting Procedures – Rules of Debit and Credit Class 11 with Answers
MCQs of Accounting Procedures – Rules of Debit and Credit Class 11 with Answers for CBSE, ISC and State Boards
MCQs of Double Entry system of class 11 CBSE ISC and State Boards
Debit means
(a) an increase in asset
(b) an increase in liability
(c) an increase in the proprietor’s equity
(d) a decrease in asset
Ans:- (a)
From the following accounts which is not related to Personal Account:
(a) Rent paid
(b) Rent paid n advance
(c) Rent received in advance
(d) Outstanding Rent
Ans:- (a)
Credit means
(a) an increase in asset
(b) an increase in liability
(c) a decrease in liability
(d) a decrease in proprietor’s equity
Ans – (b)
Sale of goods to Ram for cash is debited to
(a) Ram
(b) Cash A/c
(c) Sales A/c
(d) None of these
Ans:- (b)
Double entry system of accounting means:
(a) Entry in two sets of books
(b) Entry in two dates
(c) Entry for two aspects of the transaction
(d) Entry for one aspect of the transaction
Ans:- (c)
Withdrawal of cash from business by the proprietor is credited to
(a) Drawings A/c
(b) Capital A/c
(c) Cash A/c
(d) Profit & Loss A/c
Ans:- (c)
Bank Account is a
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these
Ans:- (a)
Choose the odd one out:
(a) Salary A/c
(b) Electricity A/c
(c) Discount Allowed A/c
(d) Discount Received A/c
Ans:- (d)
Drawings Account is a
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these
Ans:- (a)
Goodwill Account is a
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these
Ans:- (b)
Prepaid Salary Account is
(a) Natural Personal Account
(b) Artificial Personal Account
(c) Representative Personal Account
(d) None of these
Ans:- (c)
Withdrawal from bank is credited to
(a) Cash Account
(b) Bank Account
(c) Drawings Account
(d) None of these
Ans:- (b)
Which of the following accounts has a credit balance?
(a) Carriage Inward
(b) Discount Received
(c) Carriage Outward
(d) Discount Allowed
Ans:- (b)
Discount Allowed Account is
(a) an Asset Account
(b) a Liability Account
(c) A Revenue Account
(d) an Expense Account
Ans:- (d)
Sundry Creditors Account is a
(a) Revenue Account
(b) Capital Account
(c) Liability Account
(d) None of these
Ans:- (c)
The rule ‘Debit the Receiver, Credit the giver’ is applicable to
(a) Real Account
(b) Nominal Account
(c) Personal Account
(d) None of these
Ans:- (c)
The rule ‘Debit what comes in, Credit what goes out’ is applicable to
(a) Nominal Account
(b) Personal Account
(c) Real Account
(d) None of these
Ans:- (c)
