Question 7
Credit balance of bank account in cash book shows :
(i) Overdraft
(ii) Cash deposited in our bank
(iii) Cash withdrawn from bank
(iv) None of these
Answer
(ii) Cash deposited in our bank
Popular Questions of Class 11th accountancy
- Q:- Explain the qualitative characteristics of accounting information.
- Q:-
Differentiate between source documents and vouchers.
- Q:- Define accounting and state its objectives.
- Q:- Complete the following work sheet:
(i) If a firm believes that some of its debtors may ′default′, it should act on this by making sure that all possible losses are recorded in the books. This is an example of the ___________ concept.
(ii) The fact that a business is separate and distinguishable from its owner is best exemplified by the ___________ concept.
(iii) Everything a firm owns, it also owns out to somebody. This co-incidence is explained by the ___________ concept.
(iv) The ___________ concept states that if straight line method of depreciation is used in one year, then it should also be used in the next year.
(v) A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increased. Normal accounting procedure is to ignore this because of the ___________.
(vi) If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.
(vii) The management of a firm is remarkably incompetent, but the firms accountants can not take this into account while preparing book of accounts because of ________ concept. - Q:- Describe the role of accounting in the modern world.
- Q:- Giving examples, explain each of the following accounting terms:
Fixed assets
Gain
Profit
Revenue
Expenses
Short-term liability
Capital - Q:- When should revenue be recognised? Are there exceptions to the general rule?
- Q:- Discuss the concept-based on the premise do not anticipate profits but provide for all losses.
- Q:- What do you mean by an asset and what are different types of assets?
- Q:-
'Accounting information should be comparable'. Do you agree with this statement? Give two reasons.
Recently Viewed Questions of Class 11th accountancy
- Q:- If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or as a credit? If the transaction has the effect of decreasing a liability, is the decrease recorded as a debit or as a credit?
- Q:- What entry (debit or credit) would you make to:
(a) increase revenue
(b) decrease in expense,
(c) record drawings
(d) record the fresh capital introduced by the owner. - Q:- What is the money measurement concept? Which one factor can make it difficult to compare the monetary values of one year with the monetary values of another year?
- Q:- What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts?
- Q:- Why are the rules of debit and credit same for both liability and capital?
- Q:- Give a specimen of an account.
- Q:- Why are some accounting systems called double accounting systems?
- Q:- Are debits or credits listed first in journal entries? Are debits or credits indented?
- Q:- Should a transaction be first recorded in a journal or ledger? Why?
- Q:- Why is the evidence provided by source documents important to accounting?
- NCERT Chapter
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