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Recording of Transactions - I — Practice Quiz

CBSE · Class 11 · Accountancy

Try a 4-question quiz on Recording of Transactions - I for CBSE Class 11 Accountancy: tap an answer to check it and see why.

170 questions80 flashcards3 formulas & key relations5 concepts

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Quick Quiz: Recording of Transactions - I

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1

What is a source document in accounting?

2

Which accounting equation represents the fundamental relationship between assets, liabilities, and capital?

3

What does 'journalizing' mean in accounting?

4

When an asset increases, it is:

170 Questions·
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Sample Questions

1multiple choice

What is a ledger in accounting?

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A book containing all individual accounts

A ledger is the principal book where transactions from the journal are transferred and organized by account.

2multiple choice

Which of these is NOT a type of accounting voucher?

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Income Statement Voucher

Common voucher types include cash, credit, and debit vouchers, but not income statement vouchers.

3multiple choice

What happens when liabilities increase?

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Credited

According to accounting rules, an increase in liabilities is recorded as a credit entry.

4multiple choice

What is 'posting' in accounting?

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Transferring journal entries to ledger accounts

Posting is the process of moving transaction details from the journal to individual ledger accounts.

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Frequently Asked Questions

What are the important topics in Recording of Transactions - I for CBSE Class 11 Accountancy?
Key topics in Recording of Transactions - I include Business Transactions and Source Documents, Accounting Equation, Rules of Debit and Credit, Journal and Journalising. Study these first, then practise questions on each for Class 11 exams.
How many practice questions are there for Recording of Transactions - I?
There are 170 questions on Recording of Transactions - I. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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