Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2006 M.B.A Financial Management FINANCE

20. Withdrew cash from bank for private use Rs. 20,000.
The J.E is : cash a/c dr.
To Bank a/c
a) actual b)false

21. -------------- records daily cash & bank receipt and payment.
a)cash book b)bank book

22. state in which journal the subsequent items would be recorded
A)cash purchase of goods 1)purchase
B)credit sale of goods 2)journal
C) credit sale of furniture 3)sale

a) A,1 ; B,3 ; C,2
b) A,2 ; B,3 ; C,3
c) A,1 ; B,2 ; C,3

23. -------------- will have separate accounts for every customer.
a)journal ledger b)creditor ledger
c) debtor ledger d)cash ledger

24. Main ledger is kind of secondary book.
a)true b)false

25. subsidiary ledger is:
a)general ledger
b)debtor ledger
c)creditor ledger
d)all of the above

26. A formal record of a particular kind of transaction is known as:

a. Ledger b. Account
c. Posting d. Balancing

27. Match the following:
a. Recording of transaction from journal to the ledger. 1. Ledger
b. Book of secondary entries. 2. Posting
c. Formal record of particular kind of transaction. 3. Balancing
d. Closing of the ledger accounts by putting the difference 4. Account
on the improper side of the A/C.

28. Trail Balance is a part of book of Accounts.
a. actual b. False

29. The purpose of trail balance is to:
a. Check the arithmetical accuracy of ledger balances.
b. Have an overview of the operations of the business as on a particular date.
c. Both a & b.
d. None of above.

30. ________ is a separate statement proposed to test the accuracy of the ledger balances.
a. Final Accounts b. Trail Balance
c. Journal Entries d. Balance Sheet

31. In trail Balance both debit and Credit side should be match with every other.
a. actual b. False.

32. An fault committed because of lack of Knowledge of the basic accounting principle is called fault of
a. Principle b. Omission
c. Commission d. Compensating

33. If the amount received from Mr. X is wrongly entered in the account of Mr. Y can fault of ___________ is account.
a. Omission b. Commission

Earning:   Approval pending.