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    MCQs of Sales

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    Beseech for Changing
    The document contains multiple choice questions about specialized accounting journals used to record different types of business transactions. These include purchase journals, sales journals, purchases return journals, sales return journals, cash receipts journals, cash payments journals, and general journals. Transactions involving goods returned by customers, sales on credit, cash purchases, and credit purchases are among those discussed.

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    © All Rights Reserved
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    MCQs of Sales

    Uploaded by

    Beseech for Changing
    811 views6 pages
    The document contains multiple choice questions about specialized accounting journals used to record different types of business transactions. These include purchase journals, sales journals, purchases return journals, sales return journals, cash receipts journals, cash payments journals, and general journals. Transactions involving goods returned by customers, sales on credit, cash purchases, and credit purchases are among those discussed.

    Original Description:

    MCQs sale in accounting

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    The document contains multiple choice questions about specialized accounting journals used to record different types of business transactions. These include purchase journals, sales journals, purchases return journals, sales return journals, cash receipts journals, cash payments journals, and general journals. Transactions involving goods returned by customers, sales on credit, cash purchases, and credit purchases are among those discussed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    811 views6 pages

    MCQs of Sales

    Uploaded by

    Beseech for Changing
    The document contains multiple choice questions about specialized accounting journals used to record different types of business transactions. These include purchase journals, sales journals, purchases return journals, sales return journals, cash receipts journals, cash payments journals, and general journals. Transactions involving goods returned by customers, sales on credit, cash purchases, and credit purchases are among those discussed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    1) Which of the following specialized journals records "goods returned by customers"?

    A) Purchase journal

    B) Sales journal

    C) Purchases return journal

    D) Sales return journal

    2) Sales on credit is recorded in which of the following journal?

    A) Purchase journal

    B) Sales journal

    C) Purchases return journal

    D) Sales return journal

    3) Transactions that a business doesn't record in any specialised journal are recorded in
    which of the following journals or day books?

    A) Cash payments journal

    B) Cash receipts journal

    C) Purchases return journal

    D) General journal

    4) Another name of journal is

    A) Specialized journal

    B) Day book

    C) Cash book

    D) Record book
    5) Which of the following specialised journals will record "goods returned by the
    business"?

    A) Purchase journal

    B) Sales journal

    C) Purchases return journal

    D) Sales return journal

    6) Sales and purchase journal don't record

    A) Credit sales

    B) Credit purchases

    C) Credit sales and purchases

    D) Cash sales and purchases

    7) Cash received from debtor is recorded in which of the following specialized journals?

    A) Purchase journal

    B) Sales journal

    C) Cash receipts

    D) Cash payments journal

    8) Which of the following is a type of cash receipt journal + cash payment journal?

    A) Bank statement

    B) Statement of cash flow

    C) Cash book

    D) Cash documents
    9) Cash purchases is recorded in which of the following specialized journals?

    A) Purchase journal

    B) Sales journal

    C) Purchases return journal

    D) Cash payments journal

    10) A brief explanation recorded below every entry in general journal is commonly known
    as

    A) Narration

    B) Explanation

    C) Summary

    D) Other informatio

    11) Credit purchase of plant and machinery is recorded in which of the following
    specialized journals?

    A) General journal

    B) Cash journal

    C) Purchase journal

    D) Purchase return journal

    12) Debit note is the basis for recoding a transaction in which of the following journals?

    A) General journal

    B) Cash journal

    C) Purchase journal

    D) Purchase return journal


    13) "Sale of old furniture" will be recorded in which of the following specialised journals?

    A) Purchase journal

    B) Sales journal

    C) General journal

    D) Cash receipt journal

    14) Credit note is the basis for recording a transaction in which of the following specialized
    journals?

    A) Purchase journal

    B) Sales return journal

    C) General journal

    D) Cash receipt journal

    15) Specialized journals are more adequate for which type of businesses?

    A) Small businesses

    B) Big businesses

    C) Sole proprietorship

    D) Partnership

    16) Which of the following is known as an evidence that a transaction took place?

    A) Cash receipts journal

    B) General journal

    C) Source document

    D) Cash book
    17) "Business paid rent amounting to $100" which of the following specialized journals
    records this transaction?

    A) Cash receipts journal

    B) Cash payments journal

    C) Sales journal

    D) Purchase journal

    18) Credit memo or credit note No. is entered in which of the following journal?

    A) General journal

    B) Cash journal

    C) Purchase journal

    D) Sales return day book

    19 Journal Proper is called -

    1. Principal Book

    2. Subsidiary Book

    3. Day Book

    4. Proper Book

    Correct Answer: 2

    20 Purchases book records:

    1. All cash purchase

    2. All credit purchases

    3. Credit purchases of goods in trade

    4. None of the above

    Correct Answer: 3
    Q.21 Purchases book records:

    1. All cash purchase

    2. All credit purchases

    3. Credit purchases of goods in trade

    4. None of the above

    Correct Answer: 3

    Q.22 Journal Proper is called -

    1. Principal Book

    2. Subsidiary Book

    3. Day Book

    4. Proper Book

    Correct Answer: 2

    Purchase return book is used to record

    Return of goods purchased from cash

    Return of goods purchased on credit

    All of above

    None of above

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