CBSE Class 11 Accountancy Recording of Transactions - II MCQs Set F

Question: Total of Purchase Return Column in the Purchases Return Book is posted to :
a) Purchases Return A/c — Debit
b) Purchases Return A/c — Credit
c) Purchases A/c — Debit
d) Purchases A/c — Credit
Answer: b

Question: Recording is made in Journal Proper of:
a) Opening Entries
b) Closing Entries
c) Adjustment Entries
d) All of the options
Answer: d

Question: How many accounts are effected in a transaction?
a) Only one
b) Only Two
c) At least two
d) Two or Three
Answer: c

Question: Recording is made in purchases book :
a) After deducting trade discount
b) After adding trade discount
c) After deducting cash discount
d) After adding cash discount
Answer: a

Question: Debit Note is the source of writing :
a) A debit entry in an Account
b) A sale to a person
c) Sales Return Book
d) Journal Proper
Answer: a

Question: Debit notes issued are used to prepare :
a) Purchases Return Book
b) Sales Return Book
c) Purchases Book
d) Sales Book
Answer: a

Question: Recording is made in Journal Proper of:
a) All transactions
b) Those transactions which are not recorded in any subsidiary book.
c) All cash transactions
d) All credit Transactions
Answer: b

Question: Ledger is a book in which
a) Real and Nominal Accounts are maintained.
b) Real and Personal Accounts are maintained,
c) Real, Personal and Nominal Accounts are maintained.
d) Personal and Nominal Accounts are maintained.
Answer: c

Question: The process of transferring the transactions from the Journal to the ledger is called
a) Journalising.
b) Posting.
c) Balancing.
d) Costing.
Answer: b

Question: Total of Sales Return Column in the Sales Return Book is posted to :
a) Sales A/c — Debit
b) Sales A/c —Credit
c) Sales Return A/c — Debit
d) Sales Return A/c — Credit
Answer: c

Question: What type of Ledger Accounts are not carried forward to next year?
a) Personal Accounts
b) Real Accounts
c) Nominal Accounts
d) All of the options
Answer: c

Question: Purchase book is used to record :
a) Purchases of goods
b) Credit Purchases of goods
c) Credit Purchases of asset
d) All credit Purchases
Answer: b

Question: Posting of transaction means
a) entering transactions in Journal.
b) entering transactions in Ledger.
a) entering transactions in Trial Balance.
d) entering transactions in Financial Statements.
Answer: b

Question: The Sales Book
a) is a part of the Journal.
b) is a part of the Ledger.
c) is a part of the Balance Sheet.
d) is a part of the Trial Balance.
Answer: a

Question: The balance of sales column in the sales day book is Rs.30,000. Rs.5,000 were recovered from debtors. Then balance of sales column will be transferred by which amount?
a) Rs.25,000
b) Rs.30,000
c) Rs.20,000
d) Rs.35,000
Answer: b

Question: A …….. is sent to a supplier when we return goods.
a) Debit Note
b) Credit Note
c) Proforma Invoice
d) None of the options
Answer: a

Question: X received a cheque of Rs. 10,000 from Y in settlement of dues of Rs. 10,500. The cheque was dishonoured. The reversal of discount allowed by X will be recorded in
a) Cash Book.
b) Journal Proper.
c) Ledger directly.
d) None of the options.
Answer: b

Question: Ledger Account is prepared from
a) Vouchers.
b) Trial Balance.
c) Journal.
d) Financial Statements.
Answer: c

Question: Goods taken away by the proprietor from business for his personal use will be recorded in :
a) Purchases Book
b) Sales Book
c) Purchases Return Book
d) Journal Proper
Answer: d

Question: A separate column is made for ‘Credit Note No.’ in
a) Purchases Book
b) Sales Book
c) Purchases Return Book
d) Sales Return Book
Answer: d

Fill In The Blanks

Question: Received a cheque for Rs.98,000 from Gopal in full settlement of his account of Rs.1,00,000. Gopal’s A/c will be credited with Rs. – – – –.
Answer: 1,00,000

Question: Bank paid life insurance premium as per the standing instruction of the owner, _____________ account is debited.
Answer: drawings

Question: Received a two months post-dated cheque of rupees 30,000 from Rajesh and deposited in the bank on same day; discounted from Bank paying discounting charges of rupees 750 the cash book is debited by rupees ______________.
Answer: Rs 29,250

Question: Cash book is also known as book of ____________.
Answer: Prime entry

Question: Purchased machinery on credit from Mr Karan for Rs.50,000 for use in business is recorded in _______________________.
Answer: journal proper

Question: The balance of petty cash book is __________ for the firm.
Answer: asset

Question: Sold goods to M/S Mukti, Delhi. 10 kgs tea packets @Rs. 600 per kg less trade discount @10%. 5% IGST is to be charged. Freight anf packing charge is to be charged separately @ Rs.1,500. Amount to be posted in Sales Journal Rs._________________.
Answer: 7,170

Question: Cash book is both __________ and _______________ book.
Answer: Subsidiary, principal

Question: R.K. Company purchased 60 units of goods @100 each less trade discount 10% allowed, cash discount allowed is 5%. This transaction is to be recorded in ____________ __________ book.
Answer: Purchase

Question: Received from S.K. limited a cheque for Rs.10,800 against dues of Rs,12,000 in full settlement of his account. ______________ amount will be entered in receipt side of cash book.
Answer: Rs.10,800

Question: If bank charges on dishonoured cheque, then bank charges will be _________ into the cheque amount.
Answer: added

Question: Goods purchased from Sohan for Rs. 5,000 on credit is recorded in ____________ book.
Answer: purchases

True / False :

Question: Siya paid Rs.900 plus CGST and SGST @6%each.Rs.1008 will be recorded on the payment side of cash book.
Answer: True

Question: Cheque amounting to Rs.12,000 deposited into bank is now dishonoured. The bank charged Rs.250 as dishonour charges. The amount to be recorded on the payment side of cash book Rs.12,000.
Answer: False

Question: Borrowed a loan of Rs.5,00,000 from Bank @6% interest. Three months interest is outstanding. Outstanding interest A/c will be credited by Rs. 7,500.
Answer: True

Question: Loss by fire amounted to Rs.80,000 but the insurance company paid Rs.60,000. So the amount Rs.60,000 will be recorded in the bank column of cash book.
Answer: True

Question: The bank debits the firm’s account on the account of bank charges.
Answer: True

Question: Rima sold goods on credit to Rohit: 50 shuttles @Rs.10 each. In this case the customer account will be debited in sales book for Rs.2000.
Answer: False

Question: Books of original entry are called Subsidiary books.
Answer: True

Question: Both cash discount & trade discount are shown in the journal entry.
Answer: False

Question: Cash deposited in bank Rs.50,000 will be recorded in cash book in the bank column on payment side and in cash column on the receipt side.
Answer: False

Question: Mr. X of Delhi sold goods costing Rs. 50,000 to Mr. Y of Punjab. GST is levied @12%.Output CGST A/c will be credited with Rs. 6,500.
Answer: False

Question: Sudha received cheque of Rs.10, 100 from Mudra in full settlement of Rs.11, 000. The cheque is not deposited n bank for 24 hours. Entry for this will be recorded in cash book.
Answer: False

Question: M/S Tushar traders deposited with the bank the entire balance after retaining Rs.2, 000 cash in hand. The debit side and credit side of cash column of cash book are Rs.18, 170 and Rs.9,170 The amount deposited in bank is Rs.7,000.
Answer: True

Match The Following

Question: Match with the suitable option
I Deposited cash into bank                             a) Only bank column is credited
II Withdrawal of cash for office use                 b) Cash column ‘Cr’ , bank column ‘Dr’
                                                                       c) Cash column ‘Dr’ , bank column ‘Cr’
                                                                       d) Only cash column is credited
Answer: I- b; II -c

Question: Match with the correct option
I Transfer entries                  a) Entry made at the end of the year to close the relevant A/C
II Closing entries                  b) Amount transferred from one A/C to another
                        c) Entry made in the beginning of the year
Answer: I- b ; II -a

Question: Match with proper subsidiary book
I It doesn’t record non-cash transactions                    a) Journal proper
II Sales Book is a part of                   b) Cash Book
                           c) Journal
Answer: I- a ; II -c

Question: Match with the correct option
I Monthly total of purchase book is                   a) Posted to ‘Cr’ of purchases A/C
II Total of sales book is posted to                b) Posted to ‘Dr’ of purchases A/C
                           c) Posted to ‘Cr’ of sales A/C
                           d) Posted to ‘Dr’ of sales A/C
Answer: I- b ; II –c

Question: Match with relevant option
I Expenses involving small amount                          a) Journal proper
II Transactions not recorded in any subsidiary book             b) Cash Book
                           c) Petty Cash Book
Answer: I- c ; II -a

Question: Match with the suitable subsidiary book
I Receipts and payments of cash                         a) Purchases book
II Return of credit sales made by customers                     b) Sales book
                            c) Sales returns book
                            d) Cash book
Answer: I- d ; II -c

Question: Match with the suitable option
I Transaction not recorded in cash book                   a) Cash withdrawn from bank for personal use
II Not a contra entry                   b) Sold goods worth Rs 5000
                         c) Trade discount
Answer: I- c ; II -a

Question: Match with the suitable document
I Document evidencing a credit transaction        a) Debit note
II Document supporting a transaction          b) Voucher Number
                        c) Credit note
Answer: I- c ; II –b

Question: Match with the correct book of original entry
I Goods purchased on credit from Mr. X       a) Sales returned books
II Defective goods returned by Veena      b) Journal proper
III Furniture purchased for personal use       c) Purchase book
                       d) Sales book
Answer: I- c ; II -a ; III -b

Question: Match with the correct option
I Amount paid by X on behalf of Y – A/C debited         a) Cash A/C
II Goods returned to Y – A/C debited            b) X’s A/C
                          c) Y’s A/C
Answer: I- c ; II -c