{"id":10446,"date":"2021-11-03T19:05:50","date_gmt":"2021-11-03T13:35:50","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=10446"},"modified":"2025-10-09T16:24:18","modified_gmt":"2025-10-09T10:54:18","slug":"12th-commerce-it-chapter-3-exercise","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/","title":{"rendered":"12th Commerce IT Chapter 3 Exercise &#8211; Computerised Accounting with GST | Maharashtra Board (Free Solution)"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e66329908df\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e66329908df\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#12th_Commerce_IT_Chapter_3_Exercise\" >12th Commerce IT Chapter 3 Exercise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Chapter_3_%E2%80%93_Computerised_Accounting_with_GST\" >Chapter 3 &#8211; Computerised Accounting with GST<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Q_1_Fill_in_the_blanks\" >Q 1. Fill in the blanks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Q_2_State_whether_the_statement_is_True_or_False\" >Q 2. State whether the statement is True or False<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Q_3_Choose_Single_correct_answer_from_the_given_options\" >Q 3. Choose Single correct answer from the given options.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Q_4_Choose_Two_correct_answers_from_the_given_options\" >Q 4. Choose Two correct answers from the given options.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Q_5_Activity\" >Q 5. Activity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Extra_Questions\" >Extra Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#Choose_a_single_correct_answer_from_the_given_options\" >Choose a single correct answer from the given options.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/#12th_Commerce_IT_Textbook_Solutions\" >12th Commerce IT Textbook Solutions<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"12th_Commerce_IT_Chapter_3_Exercise\"><\/span><strong>12th Commerce IT Chapter 3 Exercise<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background\"><span class=\"ez-toc-section\" id=\"Chapter_3_%E2%80%93_Computerised_Accounting_with_GST\"><\/span>Chapter 3 &#8211; Computerised Accounting with GST<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Q_1_Fill_in_the_blanks\"><\/span>Q 1. Fill in the blanks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) A pre-numbered accounting document used for posting daily transactions is called as <strong><span style=\"text-decoration: underline;\">voucher<\/span><\/strong>.<\/p>\n\n\n\n<p>2) When cash is going out of the business <strong><span style=\"text-decoration: underline;\">payment<\/span><\/strong> type of voucher is used.<\/p>\n\n\n\n<p>3) Return of goods to a supplier comes under <strong><span style=\"text-decoration: underline;\">Purchase return\/Debit Note <\/span><\/strong>type of voucher.<\/p>\n\n\n\n<p>4) <strong><span style=\"text-decoration: underline;\">France<\/span><\/strong> was the first country to implement the GST in 1954.<\/p>\n\n\n\n<p>5) GSTIN stands for <strong><span style=\"text-decoration: underline;\">Goods and Service Tax Identification Number (GSTIN)<\/span><\/strong> .<\/p>\n\n\n\n<p>6) GST came into force in India with effect from <span style=\"text-decoration: underline;\">1<sup>st<\/sup> July 2017<\/span>.<\/p>\n\n\n\n<p>7) Rectifying entries or transfers or adjustment entries comes under <strong><span style=\"text-decoration: underline;\">Journal<\/span><\/strong> voucher type.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-1024x576.jpg\" alt=\"12th Commerce IT Chapter 3 Exercise\" class=\"wp-image-10485 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise-640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/12th-Commerce-IT-Chapter-3-Exercise.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">12th Commerce IT Chapter 3 Exercise<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Q_2_State_whether_the_statement_is_True_or_False\"><\/span>Q 2. State whether the statement is True or False<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Creation of company is the first step in Computerized Accounting process.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<p>2) All Ledger accounts have same groups in Computerized Accounting.<br><strong>Answer: False<\/strong><\/p>\n\n\n\n<p>3) Receipt voucher is used when the cash is accepted.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<p>4) Cash deposited into bank comes under bank voucher.<br><strong>Answer: False<\/strong><\/p>\n\n\n\n<p>5) Recording a transaction through voucher is called as voucher entry.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<p>6) Goods sold from Solapur to Hubli is an example of SGST.<br><strong>Answer: False<\/strong><\/p>\n\n\n\n<p>7) GST is focus on one nation one tax.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<p>8) GSTIN is PAN based registration number.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<p>9) CGST, SGST and IGST Ledgers are common for goods and services.<br><strong>Answer: True<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Q_3_Choose_Single_correct_answer_from_the_given_options\"><\/span>Q 3. Choose Single correct answer from the given options.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Contra Voucher is used for<\/strong> <strong>\u2026\u2026\u2026\u2026\u2026\u2026\u2026.<br><\/strong>a) Master Entry<br><strong><span class=\"has-inline-color has-vivid-purple-color\">b) Withdrawal of cash from bank<br><\/span><\/strong>c) Reports<br>d) Credit Purchase<\/p>\n\n\n\n<p><strong>2) Salary account comes under which of the following head \u2026\u2026\u2026\u2026\u2026 <br><\/strong>a) Indirect Income<br><strong><span class=\"has-inline-color has-vivid-purple-color\">b) Indirect Expenses<br><\/span><\/strong>c) Direct Income<br>d) Direct Expenses<\/p>\n\n\n\n<p><strong>3)In India the GST Act came into effect on &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;. <br><\/strong>a) 1st July 2018<br><strong><span class=\"has-inline-color has-vivid-purple-color\">b) 1st July 2017<br><\/span><\/strong>c) 1st June 2018<br>d)1st June 2017<\/p>\n\n\n\n<p><strong>4) Sale or purchase out of state involves<\/strong> <strong>\u2026\u2026\u2026. invoice.<br><\/strong>a) OutGST<br><span class=\"has-inline-color has-vivid-purple-color\"><strong>b) IGST<br><\/strong><\/span>c) WithGST<br>d) NoGST<\/p>\n\n\n\n<p><strong>5) GSTIN is<\/strong> <strong>\u2026\u2026\u2026. digit alphanumeric number.<br><\/strong>a) 13<br>b)10<br><strong><span class=\"has-inline-color has-vivid-purple-color\">c) 15<br><\/span><\/strong>d)1<\/p>\n\n\n\n<p><strong>6) In GSTIN first two digits represents<\/strong> <strong>\u2026\u2026\u2026. code.<br><span class=\"has-inline-color has-vivid-purple-color\">a) State<br><\/span><\/strong>b) Central<br>c) Company<br>d) General<\/p>\n\n\n\n<p><strong>7) GST is<\/strong> <strong>\u2026\u2026\u2026. type of tax.<br><\/strong>a) Regular<br><strong><span class=\"has-inline-color has-vivid-purple-color\">b) Indirect<br><\/span><\/strong>c) Direct<br>d) Irregular<\/p>\n\n\n\n<p><strong>Free online lecture on above topic &#8211; <a href=\"https:\/\/youtube.com\/playlist?list=PLGiOLU46prNe6tQIJakepd3uGvatQyBUe\" target=\"_blank\" rel=\"noreferrer noopener\">Click Here<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><\/strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-textbook-solutions\/\"><strong>Solution of Chapters of IT<\/strong><br><\/a><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-1-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-5-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-6-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Q_4_Choose_Two_correct_answers_from_the_given_options\"><\/span>Q 4. Choose Two correct answers from the given options.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Every voucher maintained its<\/strong> <strong>\u2026\u2026\u2026&#8230;. and<\/strong> <strong>\u2026\u2026\u2026&#8230;.. record.<br><span class=\"has-inline-color has-vivid-purple-color\">a) debit<\/span><\/strong><br>b) in<br>c) out<br><strong><span class=\"has-inline-color has-vivid-purple-color\">d) credit<br><\/span><\/strong>e) open<\/p>\n\n\n\n<p><strong>2) Valid types of vouchers are \u2026\u2026\u2026\u2026\u2026..and \u2026\u2026\u2026\u2026\u2026\u2026\u2026.<br><span class=\"has-inline-color has-vivid-purple-color\">a) contra<br>b) sales<\/span><\/strong><br>c) income<br>d) expenditure<br>e) liability<\/p>\n\n\n\n<p><strong>3) \u2026\u2026\u2026&#8230;&#8230; and\u2026\u2026\u2026\u2026\u2026 ledger accounts can be created under Group Indirect Expenses. <br><span class=\"has-inline-color has-vivid-purple-color\">a) Insurance<br><\/span><\/strong>b) Sale<br><strong><span class=\"has-inline-color has-vivid-purple-color\">c) Rent<br><\/span><\/strong>d) Bank Loan<br>e) Octroi<\/p>\n\n\n\n<p><strong>4) Codes given to Goods and Servies under GST are \u2026\u2026\u2026\u2026\u2026 and\u2026\u2026\u2026\u2026<br><span class=\"has-inline-color has-vivid-purple-color\">a) HSN<br><\/span><\/strong>b) HSC<br>c) SSC<br><strong><span class=\"has-inline-color has-vivid-purple-color\">d) SAC<br><\/span><\/strong>e) HNS<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Q_5_Activity\"><\/span>Q 5. Activity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Find out the GST exemption list for various goods and services.<\/strong><\/p>\n\n\n\n<p>List of goods and services Exempt Under GST are:<\/p>\n\n\n\n<p><strong>Goods<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Live animals<\/li>\n\n\n\n<li>Meat<\/li>\n\n\n\n<li>Fish<\/li>\n\n\n\n<li>Honey, fresh and pasteurized milk, cheese, eggs, etc.<\/li>\n\n\n\n<li>Live trees and plants<\/li>\n\n\n\n<li>Vegetables&nbsp;<\/li>\n\n\n\n<li>Dry fruits<\/li>\n\n\n\n<li>Tea, coffee and spices<\/li>\n<\/ul>\n\n\n\n<p><strong>Services<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cultivation, supplying farm labour, harvesting, warehouse related activities, renting or leading agricultural machinery, services provided by a commission agent or the Agricultural Produce Marketing Committee or Board for buying or selling agriculture produce, etc.<\/li>\n\n\n\n<li>Transportation of goods by road, rail, water, etc., payment of toll, transportation of passengers by air, transportation of goods where the cost of transport is less than INR 1500, etc.<\/li>\n\n\n\n<li>Postal service, transportation of people or goods, services by a foreign diplomat in India, services offered by the Reserve Bank of India, services offered to diplomats, etc.<\/li>\n\n\n\n<li>Services offered by arbitral tribunal, partnership firm of advocates, senior advocates to an individual or business entity whose aggregate turnover is up to INR 40 lakhs<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><\/strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-textbook-solutions\/\"><strong>Solution of Chapters of IT<\/strong><br><\/a><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-1-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">3<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-5-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-6-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Extra_Questions\"><\/span>Extra Questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-vivid-green-cyan-background-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Choose_a_single_correct_answer_from_the_given_options\"><\/span>Choose a single correct answer from the given options.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1. Computerized Accounting system is based on the concept of_____.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Database <br><\/mark><\/strong>b) Software <br>c) Hardware <br>d) Design<\/p>\n\n\n\n<p><strong>2. Using_____ accounting the transaction data is stored in a well-organized database. <\/strong><br>a) Manual <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Computerized <br><\/mark><\/strong>c) Artificial <br>d) Virtual<\/p>\n\n\n\n<p><strong>3. _____ software describes a type of application software that records and processes accounting transactions within functional modules<\/strong>.<br>a) Designing <br>b) Creating <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Accounting <br><\/mark><\/strong>d) Manual<\/p>\n\n\n\n<p><strong>4. _____ involves providing basic information about companies whose books of accounting are to be maintained.<\/strong><br>a) Making Company<br>b) Developing Company<br>c) Destroying Company<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Creating Company<\/mark><\/strong><\/p>\n\n\n\n<p><strong>5. For maintaining account _____ concepts of accounting are being followed.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Single ledger <br><\/mark><\/strong>b) One ledger <br>c) Ledger <br>d) Double ledger<\/p>\n\n\n\n<p><strong>6. All financial entries are made using _____ or account heads.<\/strong><br>a) Balance sheet <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Ledgers <br><\/mark><\/strong>c) P\/L Account <br>d) Voucher Entries<\/p>\n\n\n\n<p><strong>7. _____Accounts are created to identify transactions.<\/strong><br>a) Voucher <br>b) P\/L <br>c) Balance sheet <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Ledger<\/mark><\/strong><\/p>\n\n\n\n<p><strong>8. In accounting software_____ classify to their nature.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Groups <br><\/mark><\/strong>b) Ledger <br>c) Vouchers <br>d) Entries<\/p>\n\n\n\n<p><strong>9. A_____is a pre-numbered accounting document used for recording daily transactions.<br><\/strong>a) Groups <br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\">b) Ledger <br><\/mark><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Vouchers <br><\/mark><\/strong>d) Entries<\/p>\n\n\n\n<p><strong>10. Every voucher maintains its debit and _____record.<\/strong><br>a) In <br>b) Out <br>c) Profit <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Credit<\/mark><\/strong><\/p>\n\n\n\n<p><strong>11. The_____ voucher type is used for recording the amount received by way of cash.<\/strong><br>a) Contra <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Receipt <br><\/mark><\/strong>c) Purchase <br>d) Sales<\/p>\n\n\n\n<p><strong>12. The _____ voucher type is used for recording payment mode by cash.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Payment <br><\/mark><\/strong>b) Receipt <br>c) Contra <br>d) Journal<\/p>\n\n\n\n<p><strong>13. The______ voucher type is used for recording cash and credit sale of goods and services.<\/strong><br>a) Receipt <br>b) Payment <br>c) Purchase <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Sales<\/mark><\/strong><\/p>\n\n\n\n<p><strong>14. The______ voucher type is used for recording cash and credit purchase of goods and services.<\/strong><br>a) Receipt <br>b) Payment <br>c) Sales <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Purchase<\/mark><\/strong><\/p>\n\n\n\n<p><strong>15. The____ voucher type is used for recording deposit or withdrawals of cash from bank.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Contra <br><\/mark><\/strong>b) Sales Return <br>c) Receipt <br>d) Payment<\/p>\n\n\n\n<p><strong>16. The_____ voucher type is used for recording transfer of funds from one bank to another.<\/strong><br>a) Receipt <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Contra <br><\/mark><\/strong>c) Payment <br>d) Journal<\/p>\n\n\n\n<p><strong>17. The_____ voucher type is used for recording rectifying entries or adjustment entries.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Journal <br><\/mark><\/strong>b) Purchase <br>c) Sales <br>d) Contra<\/p>\n\n\n\n<p><strong>18. The______ voucher type is used for recording return of goods by a customer.<br><\/strong>a) Purchase <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Sales Return <br><\/mark><\/strong>c) Sales <br>d) Purchase Return<\/p>\n\n\n\n<p><strong>19. ______is issued when there is a reduction in the price charged to a customer.<\/strong><br>a) Debit Note <br>b) Purchase <br>c) Contra <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Credit Note<\/mark><\/strong><\/p>\n\n\n\n<p><strong>20. The______ voucher type is used for recording return of goods to a supplier.<\/strong><br>a) Purchase <br>b) Sales Return <br>c) Sales <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Purchase Return<\/mark><\/strong><\/p>\n\n\n\n<p><strong>21. _____is issued when there is a reduction in the price given by supplier.<br><\/strong>a) Credit Note <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Debit Note <br><\/mark><\/strong>c) Contra Note <br>d) Receipt<\/p>\n\n\n\n<p><strong>22. Capital account comes under which of the following head_____.<br><\/strong>a) Current Assets <br>b) Fixed Assets <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Capital <br><\/mark><\/strong>d) Investment<\/p>\n\n\n\n<p><strong>23. Petty cash account comes under which of the following head______.<\/strong><br>a) Capital <br>b) Fixed Assets <br>c) Investment <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Current Assets<\/mark><\/strong><\/p>\n\n\n\n<p><strong>24. Commission received account comes under which of the following head_____.<br><\/strong>a) Direct Income <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Indirect Income <br><\/mark><\/strong>c) Direct Expenses<br>d) Indirect Expenses<\/p>\n\n\n\n<p><strong>25. GST stands for_______.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Goods and Services Tax<br><\/mark><\/strong>b) Goods and Sales Tax<br>c) Goods and Supply Tax<br>d) Goods and Survey Tax<\/p>\n\n\n\n<p><strong>26. ______is an Indirect Tax which is replaced many Indirect Taxes in India.<br><\/strong>a) IST <br>b) SST <br>c) AST <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) GST<\/mark><\/strong><\/p>\n\n\n\n<p><strong>27. In India, GST Act came into effect on_____.<\/strong><br>a) 1 June 2017 <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) 1 July 2017 <br><\/mark><\/strong>c) 1 August 2010 <br>d) 1 July 2018<\/p>\n\n\n\n<p><strong>28. ____is one nation one tax.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) GST <br><\/mark><\/strong>b) IST <br>c) SST <br>d) BST<\/p>\n\n\n\n<p><strong>29. Posting a transaction through a voucher is called______.<br><\/strong>a) Custom entry <br>b) Repeat entry <br>c) Balance entry <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Voucher entry<\/mark><\/strong><\/p>\n\n\n\n<p><strong>30. _______provides a report with debit and credit balance of all ledger accounts.<br><\/strong>a) Balance sheet<br>b) Profit and Loss Account<br>c) Day Book <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Trail Balance<\/mark><\/strong><\/p>\n\n\n\n<p><strong>31. _____report gives the final working results of the business with Net profit \/Net Loss.<br><\/strong>a) Trail Balance<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Profit and Loss Account<br><\/mark><\/strong>c) Balance sheet <br>d) Day Book<\/p>\n\n\n\n<p><strong>32. _____is a statement showing the assets and liabilities of the business concern.<br><\/strong>a) Trail Balance<br>b) Profit and Loss Account<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Balance sheet <br><\/mark><\/strong>d) Day Book<\/p>\n\n\n\n<p><strong>33. _____ contain all vouchers for the day including inventory vouchers.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Day Book <br><\/mark><\/strong>b) Balance sheet <br>c) Trail Balance<br>d) Profit and Loss Account<\/p>\n\n\n\n<p><strong>34. The______report&nbsp;prints&nbsp;a&nbsp;summary&nbsp;of&nbsp;the GST&nbsp;received&nbsp;and&nbsp;paid&nbsp;by&nbsp;you.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) GST <br><\/mark><\/strong>b) Sales <br>c) Payment <br>d) Receipt<\/p>\n\n\n\n<p><strong>35. _______is one of the most widely used financial accounting software.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Tally <br><\/mark><\/strong>b) Office <br>c) C++ <br>d) Java<\/p>\n\n\n\n<p><strong>36. In Tally for deleting any ledger, group, or voucher______key combination is used.<\/strong><br>a) CTRL+D <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) ALT+D <br><\/mark><\/strong>c) ALT+S <br>d) CTRL+S<\/p>\n\n\n\n<p><strong>37. ______was the first country to implement the GST.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) France <br><\/mark><\/strong>b) Germany <br>c) Russia <br>d) Italy<\/p>\n\n\n\n<p><strong>38. <em>__<\/em>___ means every kind of movable property other than money and securities.<\/strong><br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\">a) Services <br><\/mark><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Goods <br><\/mark><\/strong>c) Tax <br>d) Supply<\/p>\n\n\n\n<p><strong>39. _____ are the activities provided by other people like doctors, consultants, CA, etc.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Services <br><\/mark><\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-contrast-color\">b) Goods <br><\/mark>c) Tax <br>d) Supply<\/p>\n\n\n\n<p><strong>40. ____<em>_<\/em> a compulsory contribution to state revenue, levied by the Government.<\/strong><br>a) Services<br>b) Goods<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Tax<br><\/mark><\/strong>d) Supply<\/p>\n\n\n\n<p><strong>41. GSTIN stands for______.<\/strong><br>a) Goods and Supply Tax Identification Number<br>b) Goods and Survey Tax Identification Number<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Goods and Services Tax Identification Number<br><\/mark><\/strong>d) Goods and Sales Tax Identification Number<\/p>\n\n\n\n<p><strong>42. The GSTIN is a ______ digit PAN-based registration number.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) 15 <br><\/mark><\/strong>b) 17 <br>c) 18 <br>d) 22<\/p>\n\n\n\n<p><strong>43. HSN stands for_____.<\/strong><br>a) Harmonized Supply of Nomenclature<br>b) Harmonized Services of Nomenclature<br>c) Harmonized Sales of Nomenclature<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Harmonized System of Nomenclature<\/mark><\/strong><\/p>\n\n\n\n<p><strong>44. SAC stands for______.<\/strong><br>a) Supply Accounting Code<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Services Accounting Code<br><\/mark><\/strong>c) Services Arrival Code<br>d) Survey Accounting Code<\/p>\n\n\n\n<p><strong>45. CGST stand for_____.<\/strong><br>a) Common Goods and Services Tax<br>b) Clear Goods and Services Tax<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Central Goods and Services Tax<br><\/mark><\/strong>d) Consumer Goods and Services Tax<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"12th_Commerce_IT_Textbook_Solutions\"><\/span>12th Commerce IT Textbook Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-1-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-1-exercise\/\">1) Advanced Web Designing<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-2-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-2-exercise\/\">2) Digital Marketing<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-3-exercise\/\">3) Computerised Accounting with GST<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-4-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-4-exercise\/\">4) E-Commerce and E-Governance<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-5-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-5-exercise\/\">5) Database Concepts using LibreOffice Base<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-6-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-it-chapter-6-exercise\/\">6) Enterprise Resource Planning (ERP)<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong>Check out our other post related to the 12th Commerce<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.youtube.com\/@Scholarszilla\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/@Scholarszilla\" target=\"_blank\" rel=\"noopener\">12th Commerce Video Lectures<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\">Textbook Solutions of 12th Commerce (All Subjects)<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\"> Free PDF of 12th Commerce Textbooks <\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-it-online-exam\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-it-online-exam\/\">12th Commerce IT MCQ Preparation (Online Test)<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\"> Free PDF of 12th Commerce Textbooks <\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\">Sample Paper of 12th Commerce for Practice PDF<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\">PDF of Solved Sample papers of 12th Commerce to improve Paper Presentation<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\">Old Question Papers of 12th Commerce with solution (All Subjects)<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":10485,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[3568],"class_list":["post-10446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-12th-commerce-it-chapter-3-exercise-hsc-board"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=10446"}],"version-history":[{"count":6,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10446\/revisions"}],"predecessor-version":[{"id":39706,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10446\/revisions\/39706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/10485"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=10446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=10446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=10446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}