Books of Original Entry – Cash Book — Account STD 11 Commerce — Question

What does debit balance of a Real Account indicates?

What is meant by Error of Complete Omission?

What are the informational needs of management?

Give the four reasons of the popularity of double entry system. Ans. Reasons of the popularity of double entry system.

Which qualitative characteristic of accounting information requires the use of common unit and common format of reporting?

What will be the effect on Trial Balance if a purchase return of ₹ 5,000 has been wrongly posted to the debit of Sales Return Account but correctly entered in the Customer's Account?

What is meant by Cash Transaction?

Wages paid to a worker for making additions to machinery amounting to 5,000 were debited to the Wages Account. Identify the type of error.

The rebate on a bill shows that it has been _________.

1. Paid before the date of maturity.
2. Paid after the date of maturity.
3. Been dishonoured.
4. Endorsed.

What does debit balance of a Nominal Account indicates?