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]

Answer in one sentence only:

What is Double Entry System?

Answer in one sentence only:

What is an Account?

Answer in one sentence only:

State the meaning of the Single Entry System.

Answer in one sentence only:

What is Personal Account?

Answer in one sentence only:

State the rule of Nominal Account.

Answer in one sentence only:

Give two examples of intangible assets?

Answer in one sentence only:

State the meaning of Real Account.

Answer in one sentence only:

Give two examples of income and gains.

Answer in one sentence only:

State the rule of Personal Account.

Answer in one sentence only:

How many methods of recording accounting information are there?

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

Method of Accounting which records both aspects of the transaction.

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Right hand side of an account.

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

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Accounts of Assets and Properties.

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Accounts of Expenses and Losses and Incomes and Gains.

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Left hand side of an account.

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The Assets which cannot be seen, touched or felt.

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Person who invented the Double Entry System.

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Incomplete system of recording business transactions.

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Scientific system of recording business transactions.

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

International Accounting day is observed on ______

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Conventional system of accounting is ______

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

Every debit has corresponding ____________

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

Radha's Account is a type of ______ account.

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

Machinery Account is ______ account.

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

Goodwill is ______ asset.

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Prepaid expenses is ______ account.

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

Debit the receiver, Credit the ____________

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

Debit what comes in, Credit what ______

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

Debit all ______ and Credit all income and gains.

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

Outstanding expense is a nominal account.

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

Capital account is a real account.

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

Every debit has equal and corresponding credit.

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

Discount received is a nominal account.

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

Drawings account is a nominal account.

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

Outstanding salary is a nominal account.

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

Loan account is personal account.

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

Goodwill account is a real account.

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

Trade discount account is a nominal account.

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.

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:

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

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

Bank loan account is a Nominal account.

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

Assets = Capital + Liabilities

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

Trademark account is a personal account.

Fill in the blank:

Increase in asset is debited and decrease in asset is ______

Fill in the blank:

Assets = Liabilities +______

Fill in the blank:

Increase in capital is credited and decrease in capital is ______

Fill in the blank:

Scientific and complete system of recording is known as ______

Fill in the blank:

Debit all expenses and losses, Credit all ______

Fill in the blank:

Land and Building account is ______ account.

Fill in the blank:

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

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:

Every transaction has ______ effect.

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______ accounts are accounts of properties and assets.

Fill in the blank:

Laptop account is a ______ account.