Model Paper 1 — Account STD 11 Commerce — Question

A person or entity to whom money is owned is known as ________.

The statement showing balance of all the ledger accounts is known as ______________.

How would deposits in transit be handled when reconciling the ending cash balance as per the bank statement to the correct adjusted cash balance?

If the bill of exchange of two month's duration is accepted on 12th June 1995 its maturity date will be __________.

Accounting gives the true picture of the organization's financial position.

A draws a bill of exchange of Rs.2500 on B for 4 months on 2nd February. The due date of the bill of exchange will be _________.

If the debit as well as credit aspects of a transaction are recorded in the cash book, it is called ......

Credit side of the trial balance was Rs11,200 lower than the debit side. The difference was placed in suspense. The correction of which of the following errors will reduce the suspense account balance?

Trial Balance is a list of the balance of:

Which of the following is/ are attribute/s of accounting?