Introduction to Book Keeping & Accountancy

What is a brief explanation of an entry?

• Narration

• Recording

Which day marks the beginning of financial year ?

• 1st April

• 31st March

Book Keeping means _____________________________

• Recording of Financial Transaction

• Analyzing the Financial Transaction

Which among the following is not a monetary transaction?

• Barter System

• Mother buying vegetables from vegetable vendor

Credit transaction are not recorded in books of accounts.

• Agree

• Disagree

Mr. Rahul purchased goods from Mr. Rohit on credit. Who is Mr. Rohit for Mr. Rahul?

• Debtor

• Creditor

Discount shown in books of Accounts

• Trade Discount

• Cash Discount

Which discount is given to buyer on purchase of bulk goods?

• Cash Discount

• Trade Discount

Purchase of Land & Building is an example of which expenditure?

• Capital Expenditure

• Revenue Expenditure

Raju gave 10 % Trade Discount to Raman on purchase of goods worth Rs.10,000,What is the net value of goods purchased?

• Rs.9,000

• Rs.11,000