HSC Arts (English Medium) 11th Standard - Maharashtra State Board Question Bank Solutions

State whether the following statement is True or False with reasons:

Discount account is a nominal account.

State whether the following statement is True or False with reasons:

Motor car account is a Real Account.

State whether the following statement is True or False with reasons:

Bank loan account is a Nominal account.

Fill in the blank:

Increase in capital is credited and decrease in capital is ______

Fill in the blank:

Land and Building account is ______ account.

Fill in the blank:

Debit what comes in and credit what goes out is the rule of ______ account.

Fill in the blank:

Travelling expenses account is ______ type of Account

Fill in the blank:

______ accounts are accounts of properties and assets.

Fill in the blank:

Laptop account is a ______ account.

Write the word, term, phrase, which can substitute the statement.
The process of extracting the balance and inserting it on lesser side of an account.

Write the word, term, phrase, which can substitute the statement.
 A debit balance to personal Accounts.

Write the word, term, phrase, which can substitute the statement.
A credit balance to bank Account.

Answer in one sentence only.
What is Statement of Affairs?

Write a word, term, or phrase which can substitute the following statement.
 A statement which is similar to Balance Sheet.

Write a word, term, or phrase which can substitute the following statement.
A statement similar to Balance Sheet prepared to find out the amount of opening capital

Select the most appropriate answer from the alternatives given below and rewrite the sentence.
The capital balances are ascertained by preparing ________

State True or False with reasons:
Statement of Affairs and Balance Sheet are one and the same.

Fill in the blank:
Statement of Affairs is just like a  ______________.

Select appropriate alternatives from those given below and rewrite the sentence.
In case of a credit transaction one of the account must be a …………….account

Select appropriate alternatives from those given below and rewrite the sentence.
Real account always shows ____________ balance.