Books of Original Entry – Special Purpose Subsidiary Books — Account STD 11 Commerce — Question

Is Trial Balance a part of Double Entry System?

Write two points of distinction between bills of exchange and promissory note.

The bank has given a wrong credit of ₹ 10,000. The accountant of the firm recorded it in the books of account by crediting the amount to ‘Miscellaneous Income'. Give your opinion with reason, is he correct in doing so?

Which GST is levied on intra-state sale of goods?

Recording the transactions and events correctly and preparing financial statements are the only objectives of accounting. Do you agree?

Define Voucher.

Explain the meaning of posting of journal entries?

''Trial Balance is only a prima facie evidence of the arithmetical accuracy of records''. Do you agree with this statement? Give reason.

State the Type of Accounts.

What is Compound Journal Entry? Give an example.