Financial Accounting Basics

Which of the Following accounts are treated in Accounting

• Real

• Nominal

• Personal

• Fictional

Cash belongs to which account under accounting system?

• Personal

• Nominal

• Real

• Impersonal

Which is not a part of Accounting System?

• Journal Books

• Ledger Books

• Trial Balance

• Slam Book

Select the Right options which are branches of Accounting?

• Financial Accounting

• Books Accounting

• Management Accounting

• Cost Accounting

The process of Writing Financial Transaction according to their nature is known as ___________?

• Journalising

• Ledger Posting

• Trial Balance

• Financial Statement Preparation

Recording of Financial Transactions in Chronological Order is Known as _________?

• Ledger Posting

• Journal Entry

• Trial Balance

• Balance Sheet

Statement showing summary of all the assets and liabilities of a business is known as _________?

• Journal Book

• Ledger Book

• Trial Balance

• Balance Sheet

Correct form of Accounting Equation is?

• Assets = Liabilities + Capital

• Assets + Liabilities = Capital

• Assets + Capital = Liabilities

• Assets - Capital = Liabilities

A journal Book does not comprises of ________ Column?

• Date

• Journal Folio

• Particular

• Amount

Cash book is having _____ Types?

• 1

• 2

• 3

• 4