Maharashtra State BoardHSC Commerce 11th
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Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board chapter 2 - Meaning and Fundamentals of Double Entry Book-Keeping [Latest edition]

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Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board - Shaalaa.com

Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping

Exercise Q.1Exercise Q.2Exercise Q.3Exercise Q.4Exercise Q.5
Exercise Q.1 [Page 38]

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping Exercise Q.1 [Page 38]

Exercise Q.1 | Q 1 | Page 38

Answer in one sentence only:

What is Double Entry System?

Exercise Q.1 | Q 2 | Page 38

Answer in one sentence only:

What is an Account?

Exercise Q.1 | Q 3 | Page 38

Answer in one sentence only:

State the meaning of the Single Entry System.

Exercise Q.1 | Q 4 | Page 38

Answer in one sentence only:

What is Personal Account?

Exercise Q.1 | Q 5 | Page 38

Answer in one sentence only:

State the rule of Nominal Account.

Exercise Q.1 | Q 6 | Page 38

Answer in one sentence only:

Give two examples of intangible assets?

Exercise Q.1 | Q 7 | Page 38

Answer in one sentence only:

State the meaning of Real Account.

Exercise Q.1 | Q 8 | Page 38

Answer in one sentence only:

Give two examples of income and gains.

Exercise Q.1 | Q 9 | Page 38

Answer in one sentence only:

State the rule of Personal Account.

Exercise Q.1 | Q 10 | Page 38

Answer in one sentence only:

How many methods of recording accounting information are there?

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Exercise Q.2 [Page 39]

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping Exercise Q.2 [Page 39]

Exercise Q.2 | Q 1 | Page 39

Write one word/term or phrase which can substitute the following statement.

Method of Accounting which records both aspects of the transaction.

Exercise Q.2 | Q 2 | Page 39

Write one word/term or phrase which can substitute the following statement.

Right hand side of an account.

Exercise Q.2 | Q 3 | Page 39

Write one word/term or phrase which can substitute the following statement.

Name of the account which is debited when proprietor uses business money for personal use.

Exercise Q.2 | Q 4 | Page 39

Write one word/term or phrase which can substitute the following statement.

Accounts of Assets and Properties.

Exercise Q.2 | Q 5 | Page 39

Write one word/term or phrase which can substitute the following statement.

Accounts of Expenses and Losses and Incomes and Gains.

Exercise Q.2 | Q 6 | Page 39

Write one word/term or phrase which can substitute the following statement.

Left hand side of an account.

Exercise Q.2 | Q 7 | Page 39

Write one word/term or phrase which can substitute the following statement.

The Assets which cannot be seen, touched or felt.

Exercise Q.2 | Q 8 | Page 39

Write one word/term or phrase which can substitute the following statement.

Person who invented the Double Entry System.

Exercise Q.2 | Q 9 | Page 39

Write one word/term or phrase which can substitute the following statement.

Incomplete system of recording business transactions.

Exercise Q.2 | Q 10 | Page 39

Write one word/term or phrase which can substitute the following statement.

Scientific system of recording business transactions.

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Exercise Q.3 [Pages 39 - 40]

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping Exercise Q.3 [Pages 39 - 40]

Exercise Q.3 | Q 1 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

International Accounting day is observed on ______

  • 10th November

  • 12th November

  • 10th December

  • 15th December

Exercise Q.3 | Q 2 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Conventional system of accounting is ______

  • English entry system

  • Double entry system

  • Indian system

  • None of these

Exercise Q.3 | Q 3 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Every debit has corresponding ____________

  • Debit

  • Credit

  • Right hand side

  • None of these

Exercise Q.3 | Q 4 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Radha's Account is a type of ______ account.

  • Nominal

  • Personal

  • Real

  • Expenses

Exercise Q.3 | Q 5 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Machinery Account is ______ account.

  • Nominal

  • Income

  • Personal

  • Real

Exercise Q.3 | Q 6 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Goodwill is ______ asset.

  • Tangible

  • Current

  • an intangible

  • None of these

Exercise Q.3 | Q 7 | Page 39

Select the most appropriate alternatives from the given below and rewrite the statement:

Prepaid expenses is ______ account.

  • Real

  • Personal

  • Nominal

  • Income

Exercise Q.3 | Q 8 | Page 40

Select the most appropriate alternatives from the given below and rewrite the statement:

Debit the receiver, Credit the ____________

  • Goes out

  • Giver

  • Income and gains

  • Comes in

Exercise Q.3 | Q 9 | Page 40

Select the most appropriate alternatives from the given below and rewrite the statement:

Debit what comes in, Credit what ______

  • Giver

  • Expenses and losses

  • Goes out

  • Income and gains

Exercise Q.3 | Q 10 | Page 40

Select the most appropriate alternatives from the given below and rewrite the statement:

Debit all ______ and Credit all income and gains.

  • Giver

  • Expenses and losses

  • Goes out

  • None of these

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Exercise Q.4 [Page 40]

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping Exercise Q.4 [Page 40]

Exercise Q.4 | Q 1 | Page 40

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

Outstanding expense is a nominal account.

  • True

  • False

Exercise Q.4 | Q 2 | Page 40

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

Capital account is a real account.

  • True

  • False

Exercise Q.4 | Q 3 | Page 40

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

Every debit has equal and corresponding credit.

  • True

  • False

Exercise Q.4 | Q 4 | Page 40

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

Discount received is a nominal account.

  • True

  • False

Exercise Q.4 | Q 5 | Page 40

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

Drawings account is a nominal account.

  • True

  • False

Exercise Q.4 | Q 6 | Page 40

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

Outstanding salary is a nominal account.

  • True

  • False

Exercise Q.4 | Q 7 | Page 40

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

Loan account is personal account.

  • True

  • False

Exercise Q.4 | Q 8 | Page 40

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

Goodwill account is a real account.

  • True

  • False

Exercise Q.4 | Q 9 | Page 40

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

Trade discount account is a nominal account.

  • True

  • False

Exercise Q.4 | Q 10 | Page 40

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

Personal transactions of proprietor are recorded in the books of account of the business.

  • True

  • False

Exercise Q.4 | Q 11 | Page 40

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

Motor car account is a Real Account.

  • True

  • False

Exercise Q.4 | Q 12 | Page 40

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

The rule of Nominal Account in Debit the receiver and Credit the giver.

  • True

  • False

Exercise Q.4 | Q 13 | Page 40

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

Bank loan account is a Nominal account.

  • True

  • False

Exercise Q.4 | Q 14 | Page 40

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

Assets = Capital + Liabilities

  • True

  • False

Exercise Q.4 | Q 15 | Page 40

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

Trademark account is a personal account.

  • True

  • False

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Exercise Q.5 [Pages 40 - 41]

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping Exercise Q.5 [Pages 40 - 41]

Exercise Q.5 | Q 1 | Page 40

Fill in the blank:

Increase in asset is debited and decrease in asset is ______

Exercise Q.5 | Q 2 | Page 40

Fill in the blank:

Assets = Liabilities +______

Exercise Q.5 | Q 3 | Page 40

Fill in the blank:

Increase in capital is credited and decrease in capital is ______

Exercise Q.5 | Q 4 | Page 40

Fill in the blank:

Scientific and complete system of recording is known as ______

Exercise Q.5 | Q 5 | Page 40

Fill in the blank:

Debit all expenses and losses, Credit all ______

Exercise Q.5 | Q 6 | Page 40

Fill in the blank:

Land and Building account is ______ account.

Exercise Q.5 | Q 7 | Page 40

Fill in the blank:

Cash Book and Personal Accounts are only maintained under ______ system.

Exercise Q.5 | Q 8 | Page 41

Fill in the blank:

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

Exercise Q.5 | Q 9 | Page 41

Fill in the blank:

Travelling expenses account is ______ type of Account

Exercise Q.5 | Q 10 | Page 41

Fill in the blank:

Every transaction has ______ effect.

Exercise Q.5 | Q 11 | Page 41

Fill in the blank:

______ accounts are accounts of properties and assets.

Exercise Q.5 | Q 12 | Page 41

Fill in the blank:

Laptop account is a ______ account.

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Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping

Exercise Q.1Exercise Q.2Exercise Q.3Exercise Q.4Exercise Q.5
Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board - Shaalaa.com

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board chapter 2 - Meaning and Fundamentals of Double Entry Book-Keeping

Balbharati solutions for Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board chapter 2 (Meaning and Fundamentals of Double Entry Book-Keeping) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping are Study of Double Entry Book-keeping System, Methods of Recording Accounting Information, Advantages of Double Entry Book-keeping System, Classification of Accounts, Golden Rules of Debit and Credit (Traditional Approach), Classification of Accounts (Modern Approach), Illustrations of Accounting Equations.

Using Balbharati 11th solutions Meaning and Fundamentals of Double Entry Book-Keeping exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in Balbharati Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 11th prefer Balbharati Textbook Solutions to score more in exam.

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