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Bookkeeping Basics Quiz

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Questions and Answers

What is the primary purpose of bookkeeping?

Managing human resources

Creating marketing campaigns

Developing new products

Recording financial transactions (correct)

Who is usually responsible for performing bookkeeping functions in an organization?

The IT specialist

The bookkeeper (correct)

The marketing manager

The CEO

What are the two standard methods of bookkeeping mentioned in the text?

Single-entry and double-entry (correct)

Cash basis and accrual basis

Budgeting and forecasting

Triple-entry and quadruple-entry

What kind of ledger contains records of sales, purchases, receipts, and payments?

Customer ledger Signup and view all the answers

Who can create financial reports from the information recorded by the bookkeeper?

Accountant Signup and view all the answers

What is the final examination conducted every year for high school students in India?

All India Senior School Certificate Examination (AISSCE) Signup and view all the answers

How are subjects like Physics, Chemistry, Biology, etc. graded in the AISSCE?

Out of 100 marks, with 30/20 reserved for practicals and internals Signup and view all the answers

When are the CBSE Board exams conducted?

November and February-March Signup and view all the answers

What did CBSE issue guidelines for in March 2019?

Addition of practical marks to mathematics Signup and view all the answers

What percentage of the aggregate score was subject to internal assessment before 2020?

0% Signup and view all the answers