FYBBI SEMESTER 1 FINANCIAL ACCOUNTING SET 2

QUESTIONS
_______________________________ is the scienific method of recording the business transactions
Maintainace of books of accounts will help in determining
______________________ after going through the books of accounts can decide how much credit to give
Who is the lender of business
To ____________________ means to have or make business dealings.
______________ means recording a transactiom
An ___________ is any property belongng to a person
CAPITAL = ASSETS +_______
A person is ______ when his liabilities are more than asset
Gross profit = _______ - Cost of sales
An entry which affects both the side of the cash book is
Accounts are of two types
Debit the reciever , credit the giver is the goldn rule for which account
Debit epenses and credit gains is the golden rule for which account
Cash discount is calculated on value after _________ discount
All reciepts and payments of cash are recorded in
This is the book of prime entry which records all transactions of credit purchase
List of all balances is known as
All capital expenditure and income are taken to
______________ expenditure is that ependiture which benefits not only the current accountig year but also the future ye
The purpose of _______________ expenditure to run a business
Advertisement paid for 2 years is a __________________ expenditure
Any reciept on revenue account is ________ reciept
____________ is a document which shows detailed information about the payment made by any person or party
Vouchers are prepared to support ___________ expenses
Whenever cheque is received from a customer the trader fills in a
In this type of cheque the payment is gven to the person whose name is on the cheque
These cheques are safer than any other cheque
Bank keeps record of all transactions in a separate name of our book called
_________________ statement explains the dfference between bank balance as per cah book and vice versa
Cash is a real account whereas bank is _________ account
Ordinarily, the balance of bank account is a ____________ balance
When the transaction is not recorded at all, the ommission is said to be ___________________
Error of ______________ are those errors where amount is wrongly entered
Errror of _______________ are those errors of book keeping where the basic double entry principle is not followed
To hamonise the diverse accounting pilicies ,the ICAI in 1997 constituted.
The responsibilty of preparation of financial statement and its disclosure lies with the ____________ of the enterprise
Accounting standards __________ deals witth disclosure of accounting policies.
Accounting standard 2 deals with valuation of ___________
Deprecation accounting comes under which accounting standards
Accounting standards _________ deals with the revenue recognition
Accounting of fixed assets comes under AS______
IFRS stands for
IAS stands for
SIC stands for
India joined the global accounting revolution on 1st April ______________
Two inventory valuation methods are
All factory overheads are recorded in ___________ account
All office overheads are recorded in ______________ account
All assets and liabilities are recorded in _________
Under hire purchase, the possession of asset is transferred to _____________
OPTIONS
1
BOOK KEEPING
EXPENDITURE
DEBTORS
PARTNERS
TRANSACT
NOTING
LIABILITIES
CAPITAL
INSOLVENT
TRADING BALANCE
DUAL ENTRY
PRIMARY AND SECONDARY
PERSONAL ACCOUNT
REAL ACCOUNT
SALES
PETTY CASH BOOK
PURCHASE BOOK
LEDGER
TRADING ACCOUNT
REVENUE
REVENUE
REVENUE
CAPITAL
JOURNAL
ROUTINE
CHEQUE SLIP
BLANK CHEQUE
ORDER CHEQUE
PASS BOOK
CASH RECOCILATION
NOMINAL
NEGATIVE
COMPLETE
OMMSISSION
COMMISSION
RBI
MANAGEMENT
2
ASSETS
5
9
9
INDIAN FASHION RESARCH SYSTEM
INDIAN AUDITORY SYSTEM
SOUTH INDIAN CORPORATION
2011
JOURNAL and LEDGER
PROFIT AND LOSS
TRADING
BALANCE SHEET
ORGANISATION
 2
ACCOUNTING
INCOME
SAHUKARS
OWNERS
BUY
ENTRY
CAPITAL
LOANS
SOLVENT
SALES
DOUBLE ENTRY
FIRST AND SECOND
REAL ACCOUNT
NOMINAL ACCOUNT
NEW
DOUBLE COLUMN CASH BOOK
SALES BOOK
TRIAL BALANCE
PROFIT AND LOSS ACCOUNT
DEFFERRED REVENUE
CAPITAL
DEFFERRED REVENUE
DEFFERRED REVENUE
FOLIO
DAILY
PAY IN SLIP
SIMPLE CHEQUE
BLANK CHEQUE
ENTRY BOOK
BANK RECONCILATION
REAL
POSITIVE
PARTIAL
COMMISSION
OMMISISION
SBI
ACCOUNTANT
1
LIABILTIES
4
10
10
INTERNATIONAL FINANCIAL REPORTING STANDARDS
INTERNATIONAL AUDIT SYSTEM
SOUTH ASEAN CORPORATION
2012
FIFO and WAC
MANUFACTURING
MANUFACTURING
TRIAL BALANCE
PURCHASER
 3 4
FINANCE BANKING
SALARIES WAGES
CREDITORS RBI
PROPRIETOR BANKS
SELL GIVE
JOURNALING WRITING
ASSET LOAN
DEBENTURE LIABILITIES
LIABLE KARTA
PURCHASES WAGES
CONTRA ENTRY NONE
ASSETS AND LIABILITIES PERSONAL AND IMPERSONAL
NOMINAL ACCOUNT NONE
PERSONAL ACCOUNT NONE
TRADE OLD
BANK BOOK CASH BOOK
PURCHASE RETURN BOOK SALES RETURN BOOK
JOURNAL FINAL ACCOUNTS
BALANCE SHEET MANUFACTURING ACCOUNT
CONTINOUS CAPITAL EXPENDITURE
DEFFERED REVENUE CONTINOUS
CAPITAL NONE
REVENUE NONE
LEDGER VOUCHER
MONTHLY ANNUAL
REQUEST FORM BANK SLIP
ORDER CHEQUE CROSS CHEQUE
SIMPLE CHECK CROSS CHEQUE
NOTEBOOK BINDING BOOK
BANK STATEMENT CASH STATEMENT
PERSONAL FICTITOUS
CREDIT DEBIT
FULL HALF
COMPENSATION SPELLING
PRINCIPLE COMPENSATION
IRDA ACCOUNTING STANDARD BOARDS
AUDITOR EMPLOYEE
3 4
STOCK GOLD
8 6
11 12
12 11
INDIAN FINANCE REGIONAL STANDARDS INTERNATIONAL FINANCE REPORT SECURITY
INTERNATIONAL ACCOUNTING STANDARDS NONE
SITTING INDIAN COMMITTEE STANDING INTERPREATATIONS COMMITTEE
2013 2014
TRADING and PROFIT NONE
TRADING ACCOUNT BALANCE SHEET
BALANCE SHEET PROFIT AND LOSS
LEDGER JOURNAL
SELLER BANK
RIGHT OPTION

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