1. Explain the concept of Book-keeping. 2. Explain term transaction with 2 Examples. 3. Mention all the golden rules of accounting. 4. Determine whether the followings are personal... 1. Explain the concept of Book-keeping. 2. Explain term transaction with 2 Examples. 3. Mention all the golden rules of accounting. 4. Determine whether the followings are personal, real or nominal accounts: a) Reliance Industries Ltd. b) Outstanding Expenses c) Prepaid Income d) Mr. Ravi. 5. Explain Capital Receipt with 2 examples. 6. Mention any 2 examples of Deferred Revenue Expenditure. 7. Determine whether followings are Asset, Liability, Income or Expenditure: a) Plant & Machinery b) Discount Allowed c) Commission received d) Capital account of Proprietor e) Furniture & Fixture f) Printing & Stationery. 8. Pass the necessary Journal Entry: a) Started Business with Cash 50,000 by Mr. Ravi. b) Paid Salary to Mr. Ram Rs 5,000 by Cheque. 9. Determine whether the followings are Capital or Revenue expenditure: a) Paid Custom duty on Purchase of Raw Material Rs 10,000 b) Paid Import Duty on Purchase of Machinery Rs 15,000. 10. Explain any 3 advantages of Computerised Accounting. 11. Explain Equity and Preference Shares. 12. Explain the Term of Loan. Read more

1. Book-keeping records financial transactions. 2. Transaction: buying goods, paying rent. 3. Rules: Debit the receiver, etc. 4. a) Personal, b) Nominal, c) Nominal, d) Personal. 5. Capital receipts: asset sales, loans. 6. Deferred Revenue: advertising, development. 7. a) Asset, b) Expenditure, etc. 8. a) Cash, Capital; b) Salary, Bank. 9. a) Revenue, b) Capital. 10. Advantages: Speed, accuracy. 11. Equity: ownership; Preference: fixed dividends. 12. Loan: borrowed sum with interest.

1. Book-keeping involves recording financial transactions systematically. 2. A transaction is any financial exchange, e.g., buying goods, paying rent. 3. Golden Rules: Debit the receiver, credit the giver; Debit what comes in, credit what goes out; Debit expenses, credit incomes. 4. a) Personal, b) Nominal, c) Nominal, d) Personal. 5. Capital receipts are non-recurring and contribute to long-term growth, e.g., selling assets, loans taken. 6. Deferred Revenue Expenditures: Development expenses, advertising campaigns. 7. a) Asset, b) Expenditure, c) Income, d) Equity, e) Asset, f) Expenditure. 8. a) Debit Cash, Credit Capital; b) Debit Salary, Credit Bank. 9. a) Revenue, b) Capital. 10. Advantages: Speed, accuracy, easy access. 11. Equity shares give ownership and voting rights; preference shares offer fixed dividends. 12. A loan is a sum borrowed with an agreement to repay with interest.