Balancing of accounts - class-XI
Description: balancing of accounts | |
Number of Questions: 30 | |
Created by: Palash Sundaram | |
Tags: recording of transactions - ii journal proper elements of accounts recording of business transactions ledger and posting ledger-posting original entry: journal and subsidiary books accountancy ledger |
The debit balance of a cash account shows ______________.
A cheque of Rs. 2,345 issued by Miss Meena was recorded in deposit column as Rs. 2,435. To ascertain the balance as per Cash Book of Miss Meena ____________________________.
A bills receivable of Rs $10,000$ which was received from a debtor in full settlement for a claim will be recorded in ______________.
It is easy to transmit the shares in case of D'mat form.
When Accounts in the ledger are balanced ?
Capital Account shows _____________.
Purchases accounts always shows __________ balance.
Sales account always shows _________ balance.
Total of all debit balance must be _____________ to the total of all credit balances.
Debtors Account shows _________ balance.
Accounts of an entity are closed down at the end of the accounting year.
Excess of debit side total of an account over its credit side total is called _____.
An account has a debit balance if the total of credit side is greater than the total of debit side.
Select the most appropriate alternative from those given below:
Reserve for discount on debtor has a _______ balance.
Bad debts reserve account always shows ________ balance.
An account has a credit balance,if the total of credit side is greater than the total debit side.
State whether the following statements are True or False.
Capital Account rarely shows debit balance.
State whether the following statement are True or False.
Purchase account always shows debit balance.
The process of equalizing the two sides of an account by putting the difference on the side where amount is short is known as _____________.
State the reasons whether the following statement is true or false.
nominal accounts are balanced in the end of the accounting year.
State with reasons whether the following statement is true or false:
The balance of an account is always known by the side which is shorter.
The process of balancing of an account involves equalization of both sides of the account. If the debt side of an account exceeds the credit side, the difference is put on the credit side. The said balance is -
(i) A debit balance
(ii) A credit balance
(iii) An expenditure or an asset
(iv) An income or a liability
Select the correct answer from the options given below -
Which of the following reflects 'child ego' as per the concept of Transactional Analysis?
The words 'To Balance b/f' or 'By Balance b/f' are recorded in the 'Particular Column' at the time of posting of _________________.
The balance of an account is always known by the side which is _______________.
The words 'To Balance b/f' or 'By Balance b/f' are recorded in the particulars column at the time of _________________.
Normally, the following accounts are balanced ____________________.
While balancing an account, the balance of an account is recorded on the side which is _____________.
While balancing an account in case of a debit balance, the Words By Balance c/d are recorded in the particulars column of an account _________________.
Balance of personal account is brought down for the next year.