Journal for Endorsment

Q.

Distinguish between financial accounting, cost accounting and management accounting.

Q.

Differentiate between accrual basis and cash basis of accounting.

Q.

Briefly explain the difference between Manual & Computerised Accounting.

Q.

Distinguish between cash account and cash book.

Q.

Distinguish between special journal and general journal.

Q.

Differentiate between book-keeping and accounting.

Q. When drawee pays the amount on due date of endorsed bill, cash a/c will be debited and___a/c will be credited in the books of Endorsee.

1. Endorser

2. Bills Receivable

3. None of these

4. Bills Payable

Q.

At the time of endorsement, the drawer credits ?

1. Drawee`s account

2. The endorser`s personal accoount

3. Bills receivable account

4. None of the above

Q.

What is meant by entity type? How it is different from entity set? Illustrate by giving suitable example from accounting reality.

Q.

A bill of exchange of Rs. 2000 is endorsed in favour of Krishan a creditor of Rs.2100 in full settlement. By what amount Krishan will be debited?

1. Rs 1900

2. None of the above

3. Rs 2000

4. Rs 2100

Q.

The email address is made up of ? a. One Part b. Two Part c. Three Part d. Four Part

Q.

Distinguish between book-keeping, accouting and accoutancy.

Q.

Distinguish between Book-keeping and Accounting.

Q.

Distinguish between cash basis and accrual basis of accounting.

Q.

Which account shall be debited in the books of drawee, when the bill is endorsed by the drawer.

1. Drawer account

2. Bills Payable account

3. None of these

4. Bank account

Q.

At the time of endorsement, the drawee debits ?

1. Bills payable account

2. Other party`s account

3. No entry

4. None of the above

Q. When bill is endorsed by A (endorser) to C (endorsee), C’s account will be debited and Bills receivable account will be credited in the books of A.

1. True
2. False

Q. When a bill is endorsed by the drawer to his creditor, in his books of account, bills receivable account will be:

1. Debited
2. Credited