Meaning, Objectives and Terminology of Accounting — Important Questions
ICSE · Class 9 · Commercial Studies
62 important questions from Meaning, Objectives and Terminology of Accounting for ICSE Class 9 Commercial Studies, with answers.
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Important Questions from Meaning, Objectives and Terminology of Accounting
Which statement about accounting and accountancy is correct?
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Accounting is a generic term and book-keeping is an essential part of it
Accounting is the wider term, and book-keeping is part of it.
Which of these is a personal account?
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Radhika's Account
Accounts relating to persons are personal accounts, and Radhika's Account is one of them.
Which of the following are real accounts?
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Building Account, Motor Vehicles Account, Furniture Account
Building, Motor Vehicles and Furniture are real accounts because they relate to assets.
Which type of account relates to expenses, losses, incomes and gains?
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Nominal account
Accounts relating to expenses, losses, incomes and gains are nominal accounts.
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