Quiz(Check Potential)

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 1. Who is the father of Accounting?

2. What is Accounting?

3. How many types of accounts in accounting?





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4. Give examples of real accounts?

5. Salary account is which type of account?

6. Bansal Trading account is which type of account?

7. What is nominal account?With example.

8. What is cash book?

9. B.R.S. stands for what?

10. What is financial year as per income tax act?


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Answer :


1. Luca Pacioli

2. Accounting is a system to record daily translation related to business properly.

3. Three.

    Personnel A/c, Real A/c and Nominal A/c


4. Machinery A/c, Furniture A/c ect.

5. Nominal A/c.

6. Personnel A/c.

7. Nominal A/c is those accounts which only recorded in P&L A/c.

Ex. Insurance,Rent & Tax,Salary ect.


8. Cash book is only for record cash and bank bank related transactions.


9. Bank Reconciliation Statement.


10. 1st April to 31st March every year.


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