What is accounting period

Define creditors

Define net loss

Define book keeping

Define real account

What is entry?

Define insolvency

Define drawer

Define capital receipt

What is bank draft?

Define credit note

Define equity

Define posting

What is credit transaction?

What is an account?

What is meant by maturity?

Define nominal account

What is cheque?
What are wasting assets?

What is business?

What is depreciation?

Define purchases

What is bank?

What are the advantages of journal?

How many parties are involved in bill of exchange?

Define renewal of a bill of exchange

What is trade discount?

What is current account?

What is cash book?

What is narration?

Define work sheet

What is goodwill?

What are formation expenses?

What is cheque book?

What are direct expenses?

What is personal account?

Define interest on drawing

Define capital loss

Define invoice

Define closing stock

Define trial balance

Define cash discount

What is recording / Accounting Records?

What is contingent liability?

What is debtor?

What is pass book?

Define outstanding expenses

Define stock

Define goods

Define error of principle

Define single entry

Define net profit

Define sales returns

Define drawing
Define liabilities

Define turnover

Define journalizing

Define ledger. general ledger, subsidiary ledger

Define Order cheque

Define Double column cash book

Define Dishonored cheque

Define Bank reconciliation statement

Define uncollected cheque / uncollected funds

Define foreign bill of exchange

Define discounting of bill

Define renewal of bill

Define noting charges

Define accommodation bill

Define trading account

Define balance sheet

Define direct income

Define indirect expense

Define current assets

Define prepaid expenses

Define accrued income

Define revenue expenditures

Define deferred revenue expenditure

Define book keeping error

Define error of commission

Define compensating errors

Define suspense account

Give two errors of trial balance

Define errors of principle

Define capital profit / gain

What is revenue expenditure?

What is interest?

Define bad debt

Define floating assets

Define fixed liabilities

Define purchases book

Enlist two types of discount

Define unpresented cheques

Define three column cash book

What is retiring of bill?

Define bank statement

Why is trial balance prepared?

Enlist two forms of trial balance

Define accounting

What is account?

Define transaction

Define adjustment / adjustment journal entries

Define journal

Define the term provision

What is revenue loss?

What are errors of omission?

Define income statement

What is crossed cheque?

Define bills of exchange

Define sales return book

What are different kinds of cash book?

Define intangible assets

Define closing entries

Define unearned income

Define narration of entry

What is account balance?

Why the ledger is called king of all books

What is a credit balance?

Why journal is called the book of original entry

Define the compound entry

What is accounting equation?

What is contra entry?

What is final account?

What are fixed assets?

What is working capital?

What are tangible assets?

Define voucher
What is meant by internal equity?

What is meant by purchases returns?

What is meant by zero balance?

What is profit & loss statement?

Define selling expenses

Define selling, general & administrative expense – SG&A

Define liquid assets

What is the difference between capital expenditure and revenue expenditure?

What is business transaction?

What is inland bill?

Define days of grace

What is meant by gross profit?

Who is proprietor?

What is cash transaction?

What is rule of debit and credit for personal accounts?

Define debit balance

Why journal is called the day book

Define promissory note

Define un-credited cheque

Define imprest system

Define acceptance of bill of exchange

Differentiate between cash book and pass book

Define special journal

Name the main types of Cheque

Define accrued expenses