HSC Arts (English Medium) 11th Standard - Maharashtra State Board Question Bank Solutions for Book Keeping and Accountancy

Correct and rewrite the following statement:

When extracts are given for common period only common items are to be considered.

From the following particulars, prepare the Bank Reconciliation Statement as of 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by the bank, recorded in the Pass Book as ₹ 5,300.
3. The cheque deposited ₹ 9,700 collected by the bank was not recorded in the Cash Book.
4. The payment side of the Cash Book was undercast by ₹ 100.
5. The electricity bill paid by the bank ₹ 6,200, was recorded twice in the Pass Book.

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by the bank, recorded in the Pass Book as ₹ 5,300.
3. The cheque deposited ₹ 9,700 collected by the bank was not recorded in the Cash Book.
4. The payment side of the Cash Book was undercast by ₹ 100.
5. The electricity bill paid by the bank ₹ 6,200, was recorded twice in the Pass Book.

Give the word term or phrase which can substitute the following statement:

Assets which remain in the business for only for short time and can be converted into cash very easily.

Select the most appropriate alternative from the given below and rewrite the statement.

The immediate recognition of loss is supported by principle of __________.

Select the most appropriate alternative from the given below and rewrite the statement.

Brief explanation of an entry is called as _________.

State whether the following statement is true or false with reasons:

Conservatism means to follow the safe side.

State whether the following statement is true or false with reasons:

The double entry system is based on “Dual Aspect” concept.

State whether the following statement is true or false with reasons:

Bank overdraft is an asset of the business.

Do you agree or disagree with the following statements :

Bills Payable is an asset of the business.

Select the most appropriate alternative from the given below and rewrite the statement.

Accounts must be honestly prepared and they must disclose all material information is known as _________.

Select the most appropriate alternative from the given below and rewrite the statement.

According to ______ cash flow statement is prepared and presented for the period for which the profit and loss account is prepared.

Complete the following sentence:

Excess of gross profit over operating expenses is______