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

Give a word, term, or phrase which can substitute the following statement:
Expenses paid before it is due.

Give a word, term, or phrase which can substitute the following statement:
Income due but not yet received

Give a word, term, or phrase which can substitute the following statement:
 Carriage paid on sale of goods.

Give a word, term, or phrase which can substitute the following statement:
The provision made to compensate the loss on account of likely debts.

Give a word, term, or phrase which can substitute the following statement:
An amount spent on promoting sale of goods.

Select the most appropriate alternatives given below and rewrite the sentence :
Discount earned is transferred to credit side of ___________ account

Interest on Drawing is credited to __________ Account.

Excess of credit over to debit in Profit and Loss Account indicates ________

State True or False with reasons :
Income due but not received is a liability.

State True or False with reasons:
Credit balance of Profit and Loss account shows net profit.

Fill in the blank :
Interest on Bank Loan is debited to _________  A/c

Fill in the blank :
Profit and Loss account is prepared to find out ___________ results of the business.

Fill in the blank :
All indirect / operating expenses are transferred to ________ account.

Fill in the blank :
Interest of proprietor's drawing is credited to _________ account.

Fill in the blank :
An excess of debit over credit in the Profit & Loss A/c represents the __________.

Find the odd one :

Find the odd one :

Find the odd one :

Do you agree or disagree with the following statement :
Reserve for bad debts is created by debiting Profit and Loss Account.

If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is ______.