HSC Commerce (English Medium) इयत्ता ११ वी - Maharashtra State Board Question Bank Solutions

Answer in one sentence only
What is Ledger Posting?

Answer in one sentence only
Where is the statement form of ledger A/c is used in actual practice?

Write the word, term, phrase, which can substitute the statement.
Transferring a journal entry to the appropriate accounts in the ledger.

Write the word, term, phrase, which can substitute the statement.
Page number of the Ledger to which an entry is posted.

Write the word, term, phrase, which can substitute the statement.
An account to be debited for goods damaged by fire.

Answer the following question in one sentence:

State the meaning of 'Contra entry'.

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

Any entry recorded on both sides of Cash Book is known as ______ entry

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

Direct deposit made by customer into our bank is recorded in the ______ side of the Cash Book.

Complete the following sentence:

Double column Cash Book records transactions relating to cash and ______

Complete the following sentence:

Credit balance shown by a bank column in Cash Book is ______

Answer in One Sentence only:

What is a ‘Scrap Value’ of an asset?

Answer in One Sentence only:

Why depreciation is charged even in the year of loss?

Answer in One Sentence only:

Which account is credited when depreciation is charged?

Answer in One Sentence only:

What is the formula to calculate depreciation by Straight Line Method?

Answer in One Sentence only:

What is Fixed Instalment Method?

Answer in One Sentence only:

Which account is debited when expenses are paid on installation of Machinery?

Write the word/term/phrase which can substitute the following statement:

The period for which the asset remains in working condition.

Write the word/term/phrase which can substitute the following statement:

The method of depreciation in which the total depreciation is equally spread over the life of the asset.

Write the word/term/phrase which can substitute the following statement:

The method of depreciation in which the rate of depreciation is fixed but the amount of depreciation reduces every year.

Write the word/term/phrase which can substitute the following statement:

The type of asset on which depreciation is charged.