Meaning, Objectives and Terminology of Accounting
ICSE · Class 9 · Commercial Studies
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Quick Quiz: Meaning, Objectives and Terminology of Accounting
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What does accounting mean in simple terms?
Which of the following is a definition of book-keeping?
Which book is used for classifying transactions?
Which side is the debit side of an account?
Sample Questions
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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