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CA Foundation Accountancy — practice by topic

Browse 110 questions across 24 Accountancy topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Accountancy topics

Partnership Accounts (39)Introduction to Accounting & Recording Transactions (8)Accounting for Partnership Firms: Retirement and Death of a Partner (7)Company Accounts (7)Indian Partnership Act 1932 (7)Analysis of Financial Statements (6)Reconstitution Admission (6)Bills of Exchange (5)Trial Balance and Rectification of Errors (5)Dissolution of Partnership Firm (3)Accountancy (2)Reconstitution Death (2)Reconstitution Retirement (2)Accounting Equation (1)Accounts (1)Brs (1)Concepts (1)Debitcredit (1)Depreciation (1)Double Entry (1)Errors (1)Finalaccounts (1)Methods of Capital Accounts (1)Trial Balance (1)

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The accounting equation isRead the answer and worked solution →According to the modern rules, an increase in an asset is recorded as aRead the answer and worked solution →Which of these is a real account?Read the answer and worked solution →A machine costing ₹1,00,000 with ₹10,000 salvage and 9-year life: annual depreciation under the straight-line method isRead the answer and worked solution →

Worked practice questions

The accounting equation is

  1. Assets = Capital − Liabilities
  2. Capital = Assets + Liabilities
  3. Assets = Liabilities + Capital
  4. Assets = Liabilities − Capital
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Correct answer: C. Assets = Liabilities + Capital

The fundamental accounting equation: Assets = Liabilities + Capital (Owner's Equity).

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According to the modern rules, an increase in an asset is recorded as a

  1. contra entry
  2. suspense entry
  3. credit
  4. debit
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Correct answer: D. debit

Under modern rules, assets increase on the debit side ('debit what comes in / increase in asset').

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Which of these is a real account?

  1. Salary A/c
  2. Capital A/c
  3. Rent A/c
  4. Machinery A/c
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Correct answer: D. Machinery A/c

Real accounts relate to assets (Machinery). Salary/Rent are nominal; Capital is personal.

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How to practise

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