MCQS ON CASHBOOK 1. Which of the following is not a type of cashbook? a) Single column cashbook b) Double column cashbook c) Triple column cashbook d) Octuple column cashbook Show Answer Explanation The correct answer is e) Octuple column cashbook. 2. In a double column cashbook, the first column is used for recording: a) … Read more
MCQS ON ACCOUNTING EQUATION 1. The accounting equation is: a) Assets = Liabilities + Owner’s Equity b) Assets + Liabilities = Owner’s Equity c) Liabilities + Owner’s Equity = Assets d) Liabilities = Assets + Owner’s Equity Show Answer Explanation The correct answer is a) Assets = Liabilities + Owner’s Equity. 2. Which of the … Read more
Chapter 6 Human Resources 1. Answer the following questions. (i) Why are people considered a resource? Ans:People are the most important resource of a nation. All other resources become meaningful when people use them. Human resource is the ultimate resource because it is people with their needs and abilities that make resources valuable. (ii) What are … Read more
Industries 1. Answer the following questions. (i) What is meant by the term ‘industry’? Ans: Industry refers to an economic activity that is concerned with the production of goods like the iron and steel industry, the extraction of minerals like the coal mining industry and the provision of services like the tourism industry. (ii) Which are … Read more
Agriculture 1. Answer the following questions. (i) What is agriculture? Ans: Agriculture is a primary activity that involves growing crops, vegetables, fruits, flowers, and raising livestock. It is directly linked to extracting and producing natural resources. (ii) Name the factors influencing agriculture. Ans: Factors influencing agriculture include soil, climate, topography, and population, among others. (iii) What … Read more
Mineral and Power Resources 1. Answer the following questions. (i) Name any three common minerals used by you every day. Ans: Salt, petroleum, and gold are everyday minerals commonly utilized by humans. (ii) What is an ore? Where are the ores of metallic minerals generally located? Ans: Ores are rocks from which minerals are extracted. … Read more