Chapters
Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping
Chapter 3: Journal
Chapter 4: Ledger
Chapter 5: Subsidiary Books
Chapter 6: Bank Reconciliation Statement
Chapter 7: Depreciation
Chapter 8: Rectification of Errors
Chapter 9: Final Accounts of a Proprietary Concern
Chapter 10: Single Entry System

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 Exercise Q.1 [Page 38]
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?
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]
Write one word/term or phrase which can substitute the following statement.
Method of Accounting which records both aspects of the transaction.
Write one word/term or phrase which can substitute the following statement.
Right hand side of an account.
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.
Write one word/term or phrase which can substitute the following statement.
Accounts of Assets and Properties.
Write one word/term or phrase which can substitute the following statement.
Accounts of Expenses and Losses and Incomes and Gains.
Write one word/term or phrase which can substitute the following statement.
Left hand side of an account.
Write one word/term or phrase which can substitute the following statement.
The Assets which cannot be seen, touched or felt.
Write one word/term or phrase which can substitute the following statement.
Person who invented the Double Entry System.
Write one word/term or phrase which can substitute the following statement.
Incomplete system of recording business transactions.
Write one word/term or phrase which can substitute the following statement.
Scientific system of recording business transactions.
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]
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
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
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
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
Select the most appropriate alternatives from the given below and rewrite the statement:
Machinery Account is ______ account.
Nominal
Income
Personal
Real
Select the most appropriate alternatives from the given below and rewrite the statement:
Goodwill is ______ asset.
Tangible
Current
an intangible
None of these
Select the most appropriate alternatives from the given below and rewrite the statement:
Prepaid expenses is ______ account.
Real
Personal
Nominal
Income
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
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
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
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]
State whether the following statement is True or False with reasons:
Outstanding expense is a nominal account.
True
False
State whether the following statement is True or False with reasons:
Capital account is a real account.
True
False
State whether the following statement is True or False with reasons:
Every debit has equal and corresponding credit.
True
False
State whether the following statement is True or False with reasons:
Discount received is a nominal account.
True
False
State whether the following statement is True or False with reasons:
Drawings account is a nominal account.
True
False
State whether the following statement is True or False with reasons:
Outstanding salary is a nominal account.
True
False
State whether the following statement is True or False with reasons:
Loan account is personal account.
True
False
State whether the following statement is True or False with reasons:
Goodwill account is a real account.
True
False
State whether the following statement is True or False with reasons:
Trade discount account is a nominal account.
True
False
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
State whether the following statement is True or False with reasons:
Motor car account is a Real Account.
True
False
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
State whether the following statement is True or False with reasons:
Bank loan account is a Nominal account.
True
False
State whether the following statement is True or False with reasons:
Assets = Capital + Liabilities
True
False
State whether the following statement is True or False with reasons:
Trademark account is a personal account.
True
False
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]
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.
Fill in the blank:
______ accounts are accounts of properties and assets.
Fill in the blank:
Laptop account is a ______ account.
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
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.
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