MCQ Chapter 2 Accountancy Class 11 Maharashtra Board Meaning and Fundamentals of Double Entry Book-Keeping 1. Who is credited with the invention of the Double Entry System?J.R.BatliboiG.R.BatliboiCarterLuca PacioliQuestion 1 of 202. What is recorded in Double Entry Book-Keeping?Only one aspect of transactionNon-monetary aspectsOnly cash transactionsBoth aspects of transactionQuestion 2 of 203. Double Entry Book-Keeping originated in which year?1594139414941694Question 3 of 204. What does the term ‘Double Entry’ mean?Two entries per dayEntry in two languagesTwo-fold effect of a transactionTwo journalsQuestion 4 of 205. Which of the following is a feature of Double Entry System?Only cash transactions are recordedIt is unscientificIt follows incomplete recordsEvery debit has a corresponding creditQuestion 5 of 206. Which book records both the aspects of a transaction?Cash BookLedgerJournalDouble Entry SystemQuestion 6 of 207. The Indian system of accounting is also known as?English systemMahajani Deshinama systemCapitalist systemScientific systemQuestion 7 of 208. Which method is considered incomplete and unscientific?Double EntryIndian SystemEnglish SystemSingle EntryQuestion 8 of 209. Personal Accounts include which of the following?Goodwill A/cRent A/cCash A/cSunil’s A/cQuestion 9 of 2010. What is the rule for Personal Accounts in Traditional Approach?Debit what comes inCredit the receiverDebit the receiver, Credit the giverDebit all incomeQuestion 10 of 2011. Which of the following is a Tangible Real Account?Goodwill A/cCopyright A/cFurniture A/cCommission A/cQuestion 11 of 2012. Which of the following is an Intangible Real Account?Cash A/cBuilding A/cStock A/cTrademark A/cQuestion 12 of 2013. Which of the following is a Nominal Account?Machinery A/cBank A/cSalary A/cPrepaid Rent A/cQuestion 13 of 2014. Which is not a Real Account?Machinery A/cStock A/cPatent A/cCapital A/cQuestion 14 of 2015. Which of the following accounts is a Representative Personal Account?Income Received in Advance A/cPurchase A/cFurniture A/cSales A/cQuestion 15 of 2016. What is the rule for Nominal Accounts?Debit what comes inCredit the giverDebit all expenses and losses, Credit all incomes and gainsCredit what goes outQuestion 16 of 2017. What type of account is ‘Rent Received A/c’?ExpenseLossIncomeAssetQuestion 17 of 2018. What type of account is ‘Outstanding Salary A/c’?Real AccountNominal AccountRepresentative Personal AccountCapital AccountQuestion 18 of 2019. Cash A/c is classified as a __________.Nominal AccountPersonal AccountReal AccountRepresentative Personal AccountQuestion 19 of 2020. Which account is affected when the proprietor brings in additional capital?Commission A/cCapital A/cInterest A/cLoan A/cQuestion 20 of 20 Loading...
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