{"id":12500,"date":"2021-03-09T12:40:14","date_gmt":"2021-03-09T07:10:14","guid":{"rendered":"https:\/\/wordpress-505192-1602719.cloudwaysapps.com\/?p=12500"},"modified":"2021-03-09T17:54:56","modified_gmt":"2021-03-09T12:24:56","slug":"samacheer-kalvi-11th-accountancy-solutions-chapter-3","status":"publish","type":"post","link":"https:\/\/samacheerkalviguru.com\/samacheer-kalvi-11th-accountancy-solutions-chapter-3\/","title":{"rendered":"Samacheer Kalvi 11th Accountancy Solutions Chapter 3 Books of Prime Entry"},"content":{"rendered":"

Students can Download Accountancy Chapter 3 Books of Prime Entry Questions and Answers, Notes Pdf, Samacheer Kalvi 11th Accountancy Book Solutions<\/a> Guide Pdf helps you to revise the complete Tamilnadu State Board New Syllabus and score more marks in your examinations.<\/p>\n

Tamilnadu Samacheer Kalvi 11th Accountancy Solutions Chapter 3 Books of Prime Entry<\/h2>\n

Samacheer Kalvi 11th Accountancy Books of Prime Entry Text Book Back Questions and Answers<\/h3>\n

I. Multiple Choice Questions
\nChoose the Correct Answer<\/p>\n

11th Accountancy Chapter 3 Book Back Answers Question 1.<\/strong>
\nAccounting equation signifies …………….
\n(a) Capital of a business is equal to assets
\n(b) Liabilities of a business are equal to assets
\n(c) Capital of a business is equal to liabilities
\n(d) Assets of a business are equal to the total of capital and liabilities
\nAnswer:
\n(d) Assets of a business are equal to the total of capital and liabilities<\/p>\n

Books Of Prime Entry Questions And Answers Pdf Question 2.<\/strong>
\n\u2018Cash withdrawn by the proprietor from the business for his personal use\u2019 causes …………….
\n(a) Decrease in assets and decrease in owner\u2019s capital
\n(b) Increase in one asset and decrease in another asset
\n(c) Increase in one asset and increase in liabilities
\n(d) Increase in asset and decrease in capital
\nAnswer:
\n(a) Decrease in assets and decrease in owner\u2019s capital<\/p>\n

Samacheer Kalvi 11th Accountancy Guide Question 3.<\/strong>
\nA firm has assets of \u20b9 1,00,000 and the external liabilities of \u20b9 60,000. Its capital would be …………….
\n(a) \u20b9 1,60,000
\n(b) \u20b9 60,000
\n(c) \u20b9 1,00,000
\n(d) \u20b9 40,000
\nAnswer:
\n(d) \u20b9 40,000<\/p>\n

Samacheer Kalvi 11th Accountancy Chapter 3 Question 4.<\/strong>
\nThe incorrect accounting equation is …………….
\n(a) Assets = Liabilities + Capital
\n(b) Assets – Capital + Liabilities
\n(c) Liabilities = Assets + Capital
\n(d) Capital = Assets – Liabilities
\nAnswer:
\n(c) Liabilities = Assets + Capital<\/p>\n

11th Accountancy Chapter 3 Question 5.<\/strong>
\nAccounting equation is formed based on the accounting principle of …………….
\n(a) Dual aspect
\n(b) Consistency
\n(c) Going concern
\n(d) Accrual
\nAnswer:
\n(a) Dual aspect<\/p>\n

11th Accountancy 3rd Chapter Solutions Question 6.<\/strong>
\nReal account deals with …………….
\n(a) Individual persons
\n(b) Expenses and losses
\n(c) Assets
\n(d) Incomes and gains
\nAnswer:
\n(c) Assets<\/p>\n

11th Accountancy 3rd Chapter Question 7.<\/strong>
\nWhich one of the following is representative personal account?
\n(a) Building A\/c
\n(b) Outstanding salary A\/c
\n(c) Mahesh A\/c
\n(d) Balan & Co. A\/c
\nAnswer:
\n(b) Outstanding salary A\/c<\/p>\n

Samacheer Kalvi Guru 11th Accountancy Question 8.<\/strong>
\nPrepaid rent is a …………….
\n(a) Nominal A\/c
\n(b) Personal A\/c
\n(c) Real A\/c
\n(d) Representative personal A\/c
\nAnswer:
\n(d) Representative personal A\/c<\/p>\n

11th Accounts Chapter 3 Solutions Question 9.<\/strong>
\nWithdrawal of cash from business by the proprietor should be credited to …………….
\n(a) Drawings A\/c
\n(b) Cash A\/c
\n(c) Capital A\/c
\n(d) Purchases A\/c
\nAnswer:
\n(b) Cash A\/c<\/p>\n

11th Accountancy Guide Question 10.<\/strong>
\nIn double entry system of book keeping, every business transaction affects …………….
\n(a) Minimum of two accounts
\n(b) Same account on two different dates
\n(c) Two sides of the same account
\n(d) Minimum three accounts
\nAnswer:
\n(a) Minimum of two accounts<\/p>\n

II. Very Short Answer Questions<\/p>\n

11th Accountancy Book Back Answers Question 1.<\/strong>
\nWhat are source documents?
\nAnswer:
\n\u201cSource documents are the authentic evidences of financial transactions. These documents show the nature of transaction, the date, the amount and the parties involved. Source documents include cash receipt, invoice, debit note, credit note, pay – in – slip, salary bills, wage bills, cheque record slips, etc.<\/p>\n

11th Accounts Chapter 3 Question 2.<\/strong>
\nWhat is accounting equation?
\nAnswer:
\nAccounting equation is a mathematical expression which shows that the total of assets is equal to the total of liabilities and capital. This is based on the dual aspect concept of accounting. This means that total claims of outsiders and the proprietor against a business enterprise will always be equal to the total assets of the business enterprise.<\/p>\n

11th Accountancy Guide Pdf Download Question 3.<\/strong>
\nWrite any one transaction which<\/p>\n

    \n
  1. Decreases the assets and decreases the liabilities<\/li>\n
  2. Increases one asset and decreases another asset<\/li>\n<\/ol>\n

    Answer:<\/p>\n

      \n
    1. Paid creditors<\/li>\n
    2. Gash sales<\/li>\n<\/ol>\n

      11th Accountancy Unit 3 Question 4.<\/strong>
      \nWhat is meant by journalising?
      \nAnswer:
      \nThe word journal has been derived from the French word \u2018Jour\u2019 which means day. So, journal means daily. Journalising is the beginning of the accounting process for the financial transactions.<\/p>\n

      Class 11 Accountancy Chapter 3 Solutions Question 5.<\/strong>
      \nWhat is real account?
      \nAnswer:
      \nAll accounts relating to tangible and intangible properties and possessions are called real accounts.<\/p>\n

      Bookkeeping And Accountancy 11th Solutions Chapter 3Bookkeeping And Accountancy 11th Solutions Chapter 3<\/p>\n

      Bookkeeping And Accountancy 11th Solutions Chapter 3 Question 6.<\/strong>
      \nHow are personal accounts classified?
      \nAnswer:
      \nPersonal account: Account relating to persons is called personal account. The personal account may be natural, artificial or representative personal account.<\/p>\n

      Books Of Prime Entry Exercises Question 7.<\/strong>
      \nState the accounting rule for nominal account.
      \nAnswer:
      \nDebit all expenses and losses credit all incomes and gains.<\/p>\n

      Samacheer Kalvi 11th Accountancy Solutions Question 8.<\/strong>
      \nGive the golden rules of double entry accounting system.
      \nAnswer:
      \nThe consistency convention implies that
      \n\"11th<\/p>\n

      III. Short Answer Questions<\/p>\n

      11th Accountancy Solutions Samacheer Kalvi Question 1.<\/strong>
      \nWrite a brief note on accounting equation approach of recording transactions.
      \nAnswer:
      \nThe relationship of assets with that of liabilities to outsiders and to owners in the equation form is known as accounting equation.
      \nUnder the double entry system of book keeping, every transaction has two fold effect, which causes the changes in assets and liabilities or capital in such a way that an accounting equation is completed and equated.
      \nCapital + Liabilities = Assets
      \nCapital can also be called as owner\u2019s equity and liabilities as outsider\u2019s equity.<\/p>\n

      11th Accounts Book Answers Question 2.<\/strong>
      \nWhat is an Account? Classify the accounts with suitable examples.
      \nAnswer:
      \n\"Books
      \n1. Asset account: Any physical thing or right owned that has a monetary value is called asset. The assets are grouped and shown separately; for example, Land and Buildings account, Plant and Machinery account.<\/p>\n

      2. Liability account: Financial obligations of the enterprise towards outsiders are shown under separate heads as liabilities; for example, creditors account, expenses outstanding account.<\/p>\n

      3. Capital account: Financial obligations of a business enterprise towards its owners are grouped under this category; for example, capital contributed by owner.<\/p>\n

      4. Revenue account: Accounts relating to revenues of an enterprise are grouped under this category, for example; revenues from sale of goods, rent received.<\/p>\n

      5. Expense account: Expenses incurred and losses suffered for earning revenue are grouped under this category; for example, purchase of goods, salaries paid.<\/p>\n

      11 Accountancy Guide Question 3.<\/strong>
      \nWhat are the three different types of personal accounts?
      \nAnswer:
      \nUnder double entry system of book keeping, for the purpose of recording the various financial transactions, the accounts are classified as personal accounts and impersonal accounts.<\/p>\n

      1. Natural person\u2019s account: Natural person means human beings. Example: Vinoth account, Malini account.<\/p>\n

      2. Artificial person\u2019s account: Artificial person refers to the persons other than human beings recognised by law as persons. They include business concerns, charitable institutions, etc. Example: BHEL account, Bank account.<\/p>\n

      3. Representative personal accounts: These are the accounts which represent persons natural or artificial or a group of persons. Example: Outstanding salaries account, Prepaid rent account. When expenses are outstanding, it is payable to a person. Hence, it represents a person.<\/p>\n

      Accountancy 11th Guide Question 4.<\/strong>
      \nWhat is the accounting treatment for insurance premium paid on the life of the proprietor?
      \nAnswer:
      \n\"Samacheer<\/p>\n

      Question 5.
      \nState the principles of double entry system of bookkeeping.
      \nAnswer:
      \nFollowing are the principles of double entry system:<\/p>\n

        \n
      1. In every business transaction, there are two aspects.<\/li>\n
      2. The two aspects involved are the benefit or value receiving aspect and benefit or value giving aspect.<\/li>\n
      3. These two aspects involve minimum two accounts; at least one debit and at least one credit.<\/li>\n
      4. For every debit, there is a corresponding and equivalent credit. If one account is debited the other account must be credited.<\/li>\n<\/ol>\n

        Question 6.
        \nBriefly explain about steps in journalising.
        \nAnswer:
        \nThe following steps are followed in journalising:<\/p>\n

          \n
        1. Analyse the transactions and identify the accounts (based on aspects) which are involved in the transaction.<\/li>\n
        2. Classify the above accounts under Personal account, Real account or Nominal account<\/li>\n
        3. Apply the rules of debit and credit for the above two accounts.<\/li>\n
        4. Find which account is to be debited and which account is to be credited by the application of rules of double entry system.<\/li>\n
        5. Record the date of transaction in the date column.<\/li>\n
        6. Enter the name of the account to be debited in the particulars column very close to the left hand side of the particulars column followed by the abbreviation \u2018Dr.\u2019 at the end in the same line. Against this, the amount to be debited is entered in the debit amount column in the same line.<\/li>\n
        7. Write the name of the account to be credited in the second line starting with the word \u2018To\u2019 prefixed a few spaces away from the margin in the particulars column. Against this, the amount to be credited is entered in the credit amount column in the same line.<\/li>\n
        8. Write the narration within brackets in the next line in the particulars column.<\/li>\n<\/ol>\n

           <\/p>\n

          Question 7.
          \nWhat is double entry system? State its advantages.
          \nAnswer:
          \nDouble entry system of book keeping is a scientific and complete system of recording the financial transactions of an organisation. According to this system, every transaction has a two fold effect. That is, there are two aspects involved, namely, receiving aspect and giving aspect. It is denoted by debit (Dr.) and credit (Cr.). The basic principle of double entry system is that for every debit there must be an equivalent and corresponding credit. Debit denotes an increase in assets or expenses or a decrease in liabilities, income or capital. Credit denotes an increase in liabilities, income or capital or a decrease in assets or expenses.<\/p>\n

          IV. Exercises<\/p>\n

          Question 1.
          \nComplete the accounting equation
          \n(a) Assets = Capital + Liabilities
          \n\u20b9 1,00,000 = \u20b9 80,000 + 20,000<\/p>\n

          (b) Assets = Capital + Liabilities
          \n\u20b9 2,00,000 = \u20b9 + ? 40,000<\/p>\n

          (c) Assets = Capital + Creditors
          \n? = \u20b9 1,60,000 + \u20b9 80,000
          \nAnswer:
          \n(a) Assets = Capital + Liabilities
          \n\u20b9 1,00,000 = \u20b9 80,000 + 20,000<\/p>\n

          (b) Assets = Capital + Liabilities
          \n\u20b9 2,00,000 = \u20b9 1,60,000 + \u20b9 40,000<\/p>\n

          (c) Assets = Capital + Creditors
          \n\u20b9 2,40,000 = \u20b9 1,60,000 + \u20b9 80,000<\/p>\n

          Question 2.
          \nFor the following transactions, show the effect on:<\/p>\n

          (a) Raj started business with cash – \u20b9 40,000
          \n(b) Opened bank account with a deposit of – \u20b9 30,000
          \n(c) Bought goods from Hari on credit for – \u20b9 12,000
          \n(d) Raj withdrew cash for personal use – \u20b9 1,000
          \n(e) Bought furniture by using debit card for – \u20b9 10,000
          \n(f) Sold goods to Murugan and cash received – \u20b9 6,000
          \n(g) Money withdrawn from bank for office use – \u20b9 1,000<\/p>\n

          Answer:
          \n\"Samacheer<\/p>\n

          Question 3.
          \nPrepare accounting equation for the following transactions. (5 Marks):<\/p>\n

          (a) Murugan commenced business with cash \u20b9 80,000
          \n(b) Purchased goods for cash \u20b9 30,000
          \n(c) Paid salaries by cash \u20b9 5,000
          \n(d) Bought goods from Kumar for \u20b9 5,000 and deposited the money in CDM.
          \n(e) Introduced additional capital of \u20b9 10,000<\/p>\n

          Answer:
          \n\"11th<\/p>\n

          Question 4.
          \nWhat will be the effect of the following on the accounting equation? (5 Marks)<\/p>\n

          (a) Sunil started business with \u20b9 1,40,000 cash and goods worth \u20b9 60,000
          \n(b) Purchased furniture worth \u20b9 20,000 by cash
          \n(c) Depreciation on furniture \u20b9 800
          \n(d) Deposited into bank \u20b9 40,000
          \n(e) Paid electricity charges through net banking \u20b9 500
          \n(f) Sold goods to Ravi costing \u20b9 10,000 for \u20b9 15,000
          \n(g) Goods returned by Ravi \u20b9 5,000 (costing \u20b9 4,000)<\/p>\n

          Answer:
          \n\"11th<\/p>\n

          Question 5.
          \nCreate an accounting equation on the basis of the following transactions: (5 Marks)<\/p>\n

            \n
          1. Rakesh started business with a capital of \u20b9 1,50,000<\/li>\n
          2. Deposited money with the bank \u20b9 80,000<\/li>\n
          3. Purchased goods from Mahesh and paid through credit card \u20b9 25,000<\/li>\n
          4. Sold goods (costing \u20b9 10,000) to Mohan for \u20b9 14,000 who pays through debit card<\/li>\n
          5. Commission received by cheque and deposited the same in the bank \u20b9 2,000<\/li>\n
          6. Paid office rent through ECS \u20b9 6,000<\/li>\n
          7. Sold goods to Raman for \u20b9 15,000 of which \u20b9 5,000 was received at once<\/li>\n<\/ol>\n

            Answer:
            \n\"11th<\/p>\n

            Question 6.
            \nCreate an accounting equation on the basis of the following transactions: (5 Marks)<\/p>\n

              \n
            1. Started business with cash \u20b9 80,000 and goods \u20b9 75,000<\/li>\n
            2. Sold goods to Shanmugam on credit for \u20b9 50,000<\/li>\n
            3. Received cash from Shanmugam in full settlement \u20b9 49,000<\/li>\n
            4. Salary outstanding \u20b9 3,000<\/li>\n
            5. Goods costing \u20b9 1,000 given as charity<\/li>\n
            6. Insurance premium paid \u20b9 3000<\/li>\n
            7. Out of insurance premium paid, prepaid is \u20b9 500<\/li>\n<\/ol>\n

              Answer:
              \n\"Samacheer<\/p>\n

              Question 7.
              \nCreate accounting equation on the basis of the following transactions:<\/p>\n

                \n
              1. Opening balance on 1st<\/sup> January, 2018 : cash \u20b9 20,000; stock \u20b9 50,000 and bank \u20b9 80,000<\/li>\n
              2. Bought goods from Suresh \u20b9 10,000 on credit<\/li>\n
              3. Bank charges \u20b9 500<\/li>\n
              4. Paid Suresh \u20b9 9,700 through credit card in full settlement.<\/li>\n
              5. Goods purchased on credit from Philip for \u20b9 15,000<\/li>\n
              6. Goods returned to Philip amounting to \u20b9 4,000<\/li>\n<\/ol>\n

                Answer:
                \n\"11th<\/p>\n

                Question 8.
                \nEnter the following transactions in the journal of Manohar who is dealing in textiles:
                \n\"11th
                \nAnswer:
                \nIn the books of Manohar
                \nJournal Entries
                \n\"11th<\/p>\n

                Question 9.
                \nPass journal entries in the books of Sasi Kumar who is dealing in automobiles.
                \n\"11th
                \nAnswer:
                \nIn the books of Sasi Kumar
                \nJournal Entries
                \n\"11th<\/p>\n

                Question 10.
                \nPass Journal entries in the books of Hari who is a dealer in sports items
                \n\"11th
                \nAnswer:
                \nIn the Books of Hari
                \nJournal Entries
                \n\"Class<\/p>\n

                Question 11.
                \nKarthick opened a provisions store on 1st April, 2017. Journalise the following transactions in his books:
                \n\"Bookkeeping
                \nAnswer:
                \nIn the Books of Karthick
                \nJournal Entries
                \n\"Books<\/p>\n

                Question 12.
                \nJournalise the following transactions in the books of Ramesh who is dealing in computers:
                \n2018, March:<\/p>\n

                1 –\u00a0 Ramesh started business with cash \u20b9 3,00,000, Goods \u20b9 80,000 and Furniture \u20b9 27,000.
                \n2 – Money deposited into bank \u20b9 2,00,000
                \n3 – Bought furniture from M\/s Jayalakshmi Furniture for \u20b9 28,000 on credit.
                \n4 – Purchased goods from Asohan for \u20b9 5,000 by paying through debit card.
                \n5 – Purchased goods from Guna and paid through net banking for cash \u20b9 10,000
                \n6 – Purchased goods from Kannan and paid through credit card \u20b9 20,000
                \n7 – Purchased goods from Shyam on credit for \u20b9 50,000
                \n8 – Bill drawn by Shyam was accepted for \u20b9 50,000
                \n9 – Paid half the amount owed to M\/s Jayalakshmi Furniture by cheque
                \n10 – Shyam\u2019s bill was paid<\/p>\n

                Answer:
                \nIn the Books of Ramesh
                \nJournal Entries
                \n\"11th<\/p>\n

                Question 13.
                \nJournalise the following transactions in the books of Sundar who is a book seller.
                \n\"11th
                \nAnswer:
                \nIn the Books of Mr.Sundar
                \nJournal Entries
                \n\"11<\/p>\n

                Question 14.
                \nRaja has a hotel. The following transactions took place in his business. Journalise them.
                \n\"
                \nAnswer:
                \nIn the Books of Raja
                \nJournal Entries
                \n\"Samacheer<\/p>\n

                Question 15.
                \nFrom the following transactions of Shyam, a stationery dealer, pass joumal entries for the month of August 2017.
                \nAugust 2017 :<\/p>\n

                1 – Commenced business with cash \u20b9 4,00,000, Goods \u20b9 5,00,000
                \n2 – Sold goods to A and money received through RTGS \u20b9 2,50,000
                \n3 – Goods sold to Z on credit for \u20b9 20,000
                \n5 –\u00a0 Bill drawn on Z and accepted by him \u20b9 20,000
                \n8 – Bill received from Z is discounted with the bank for \u20b9 19,000
                \n10 – Goods sold to M on credit \u20b9 12,000
                \n12 – Goods distributed as free samples for \u20b9 2,000
                \n16 – Goods taken for office use \u20b9 5,000
                \n17 – M became insolvent and only 0.80 paise per rupee is received in final settlement
                \n20 – Bill of Z discounted with the bank is dishonoured<\/p>\n

                Answer:
                \nIn the Books of Shyam
                \nJournal Entries
                \n\"Samacheer<\/p>\n

                Question 16.
                \nMary is a cement dealer having business for more than 5 years. Pass journal entries in her books for the period of March, 2018.
                \n\"Samacheer
                \nAnswer:
                \nIn the Books of Mary
                \nJournal Entries
                \n\"Samacheer<\/p>\n

                Textbook Case Study<\/p>\n

                Pearlita is a trader. She buys and sells electronic goods. She maintains double entry book – keeping. She purchases and sells goods both on cash and credit bases. If the purchased goods are not in good condition, she sends them back to her supplier. At the same time, she also accepts if her customers return the goods sold to them, when the goods are not in good condition. She maintains a bank account for her business. She receives and pays money through bank transactions.<\/p>\n

                Question 1.
                \nWhy does she maintain double entry book keeping?
                \nAnswer:
                \nIn this system the two aspects of each transaction are recorded in the books of account. This helps in checking the accuracy in accounting.<\/p>\n

                Question 2.
                \nDo all the business units engage in credit transaction?
                \nAnswer:
                \nNo, she purchases and sells goods both on cash and credit basis.<\/p>\n

                Question 3.
                \nCan you think of some business units that have only cash transactions?
                \nAnswer:
                \nYes, she has to spend money for expenses and capital also. Nominal accounts also maintained.<\/p>\n

                Question 4.
                \nIs it necessary for Pearlita to maintain a separate bank account for business?
                \nAnswer:
                \nYes, she should maintain a bank account for her business.<\/p>\n

                Question 5.
                \nWhat will happen if she uses her personal bank account for her business transactions?
                \nAnswer:
                \nBecause she maintains double entry book keeping, here the owner and the business are separated.<\/p>\n

                Question 6.
                \nIdentify the business documents involved in this case study.
                \nAnswer:
                \nDebit note, credit note, Pay – in – slip, cash receipts, Invoice, cheques and vouchers.<\/p>\n

                Question 7.
                \nCan you think of some assets and liabilities for Pearlita\u2019s business?
                \nAnswer:
                \nBalance sheet of Pearlita
                \n\"Samacheer<\/p>\n

                Samacheer Kalvi 11th Accountancy Books of Prime Entry Additional Questions and Answers<\/h3>\n

                I. Multiple Choice Questions
                \nChoose the correct answer<\/p>\n

                Question 1.
                \nA debit note is also called as …………….
                \n(a) Credit note
                \n(b) Debit memo
                \n(c) Vouchers
                \n(d) Cash memo
                \nAnswer:
                \n(b) Debit memo<\/p>\n

                Question 2.
                \nA credit note is also called as ……………..
                \n(a) Credit memo
                \n(b) Debit note
                \n(c) Vouchers
                \n(d) Cash memo
                \nAnswer:
                \n(a) Credit memo<\/p>\n

                Question 3.
                \nWhen cash or cheque is deposited in bank, a form is to be filled by a customer is called as …………….
                \n(a) Pay – in – slip
                \n(b) Voucher
                \n(c) Cash memo
                \n(d) Invoice
                \nAnswer:
                \n(a) Pay – in – slip<\/p>\n

                Question 4.
                \nOwner\u2019s equity is otherwise called as …………….
                \n(a) Capital
                \n(b) Creditors
                \n(c) Debitors
                \n(d) Assets
                \nAnswer:
                \n(a) Capital<\/p>\n

                Question 5.
                \nOutsider\u2019s equity is otherwise called as …………….
                \n(a) Capital
                \n(b) liabilities
                \n(c) debtors
                \n(d) Assets
                \nAnswer:
                \n(b) liabilities<\/p>\n

                Question 6.
                \nThe accounts relating to expenses, losses, revenues and gains are called …………….
                \n(a) Nominal accounts
                \n(b) Real accounts
                \n(c) Personal accounts
                \n(d) Tangible Real accounts
                \nAnswer:
                \n(a) Nominal accounts<\/p>\n

                Question 7.
                \nGoodwill is an example of accounts …………….
                \n(a) Real
                \n(b) Nominal
                \n(c) Tangible real
                \n(d) Intangible real
                \nAnswer:
                \n(d) Intangible real<\/p>\n

                Question 8.
                \nOutstanding salaries account is an example for accounts …………….
                \n(a) Personal account
                \n(b) Real account
                \n(c) Nominal account
                \n(d) Representative Personal account
                \nAnswer:
                \n(d) Representative Personal account<\/p>\n

                Question 9.
                \nJournal means …………….
                \n(a) daily
                \n(b) monthly
                \n(c) yearly
                \n(d) weekly
                \nAnswer:
                \n(a) daily<\/p>\n

                Question 10.
                \nRecord of business transactions in the journal is known as ……………..
                \n(a) Journal entry
                \n(b) Ledger
                \n(c) Book – keeping
                \n(d) Accounting
                \nAnswer:
                \n(a) Journal entry<\/p>\n

                II. Very Short Answer Questions<\/p>\n

                Question 1.
                \nWhat is invoice?
                \nAnswer:
                \nInvoice is used for credit purchases and credit of sales. The date, amount and details of credit purchases and credit sales are given in the invoices. Invoice is generally prepared by the seller in three copies.<\/p>\n

                Question 2.
                \nWhat is Pay – in – slip?
                \nAnswer:
                \nWhen cash or cheques is deposited in bank, a form is to be filled by a customer and submitted to the banker along with cash or cheque. This is called as Pay – in – slip or deposit slip.<\/p>\n

                Question 3.
                \nWhat is cheque?
                \nAnswer:
                \nCheque is a negotiable instrument. Cheque book is issued by a bank to its customers for withdrawing money for own use or for making payment to others.<\/p>\n

                Question 4.
                \nWhat is narration?
                \nAnswer:
                \nA short description of each transaction which is written under each entry is called narration.<\/p>\n

                Question 5.
                \nWhat is compound entry?
                \nAnswer:
                \nCompound entry is an entry in which more than two accounts are involved. Either more than one account is debited or more than one account is credited or both.<\/p>\n","protected":false},"excerpt":{"rendered":"

                Students can Download Accountancy Chapter 3 Books of Prime Entry Questions and Answers, Notes Pdf, Samacheer Kalvi 11th Accountancy Book Solutions Guide Pdf helps you to revise the complete Tamilnadu State Board New Syllabus and score more marks in your examinations. Tamilnadu Samacheer Kalvi 11th Accountancy Solutions Chapter 3 Books of Prime Entry Samacheer Kalvi …<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[7],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/posts\/12500"}],"collection":[{"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/comments?post=12500"}],"version-history":[{"count":0,"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/posts\/12500\/revisions"}],"wp:attachment":[{"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/media?parent=12500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/categories?post=12500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/samacheerkalviguru.com\/wp-json\/wp\/v2\/tags?post=12500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}