Question

Match List-I with List-II
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Choose the correct answer from the options given below:

• A. (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
• B. (A)-(III), (B)-(I), (C)-(II), (D)-(IV)
• C. (A)-(III), (B)-(I), (C)-(IV), (D)-(II)
• D. (A)-(I), (B)-(III), (C)-(II), (D)-(IV)

Hint:

Physical records only track numbers and weights (such as hours worked, bags of seed, or liters of milk) without attaching a monetary value, whereas financial records deal directly with cash value.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
This matching question is based on the classification of farm records, accounting practices, and registers maintained on a farm.
Farm accounts help track financial transactions, input utilization, labor hours, and overall productivity.

Step 3: Detailed Explanation:
Let us evaluate each item systematically:
- (A) Supplementary record: This category includes specialized records that support primary accounting books. An Auction register is maintained as a secondary record to log bid details and sales, making it a supplementary record. This matches with (III).
- (B) Financial record: Financial books track monetary transactions on the farm. A Wage register records cash payments made to farm laborers, making it a financial record. This matches with (I).
- (C) Physical record: These records track physical quantities rather than monetary values. A Labour record tracks the hours or days worked by laborers, which represents physical labor units. This matches with (IV).
- (D) Giving account: In double-entry bookkeeping, accounts are classified as receiving (debit) or giving (credit) value. Under the golden rule "Credit the giver," a giving account corresponds directly to the Credit side. This matches with (II).

Step 4: Final Answer:
Combining these matches, we get: (A)-(III), (B)-(I), (C)-(IV), (D)-(II).