Question 1
What is the primary art and science of recording business transactions in a systematic set of books called?
Correct Answer:
Book-keeping
Question 2
Who is universally recognized as the father of the Double Entry System of book-keeping?
Correct Answer:
Luca Pacioli
Question 3
According to the fundamental Accounting Equation, which formula correctly represents the relationship between Assets, Liabilities, and Capital?
Correct Answer:
Assets = Liabilities + Capital
Question 4
If a business enterprise has total Assets of ₹85,000 and total external Liabilities of ₹32,000, what is the amount of Owner's Capital?
Correct Answer:
₹53,000
Question 5
Under the Golden Rules of Accounting, what is the rule for Personal Accounts?
Correct Answer:
Debit the receiver, Credit the giver
Question 1
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Prepare with the Assam ASSEB HSLC Elective Commerce Practice Questions - Assam ASSEB HSLC Class 10 Elective Commerce Examination (SEBA ASSEB 2026) Exam practice quiz. This question bank includes 100 questions covering account, cash, bank, business, and entry. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Assam ASSEB HSLC Elective Commerce Practice Questions - Assam ASSEB HSLC Class 10 Elective Commerce Examination (SEBA ASSEB 2026) Exam

This practice set contains 100 questions from the matching question bank and focuses on account, cash, bank, business, and entry. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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