Which of the following options correctly describe what a Capital Reserve is?
Money owed to suppliers for raw materials.
The amount of cash in the register at the end of the day.
Profits set aside for general safety from daily operations.
Profit earned from non-regular activities, such as selling land.
If a cafe buys ₹10,000 worth of a coffee beans machine on credit, what is the immediate impact on the accounting equation?
Assets increase and Equity increases.
Liabilities increase and Equity decreases.
One Asset increases while another Asset decreases.
Assets increase and Liabilities increase.
An account is defined as the fundamental building block of the accounting system. Which of the following options best describes its purpose?
A specialized record used to track and summarize all transactions related to a specific item.
A chronological diary of every event that happens on a business day.
A statutory document filed with government authorities for tax assessment.
A set of rules used to determine the market value of a business's brand.
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The IIT Madras BS Business Data Management (BDM) Quiz 2 paper sat on 16 Aug 2026, in the May 2026 term: 24 questions for 50 marks in 120 minutes. The first 3 questions are below. Sign in with Google — it is free — to see the whole paper with its answers and explanations, in learning mode or as a timed mock test.
| Feature | BDM Quiz 2 16 Aug 2026 at a glance |
|---|---|
| Term | May 2026 term |
| Subject | Business Data Management |
| Course code | BSMS2001 |
| Questions | 24 |
| Marks | 50 |
| Duration | 120 min |
| MCQ | 24 |
| Official paper | Business Data Management 14 Aug 26 |
| Negative marking | No negative marking. |
| Updated |
