CBSE Questions for Class 11 Commerce Accountancy Recording Of Transactions - Ii Quiz 12 - MCQExams.com

Investment was sold in cash for Rs $$1,00,000$$ at par will be recorded in ____________.
  • Cash book
  • General Journal
  • Purchases return book
  • Purchase book
A bills receivable of Rs $$10,000$$ which was received from a debtor in full settlement for a claim will be recorded in ______________.
  • Bills receivable book
  • Journal Proper (General Journal)
  • Purchases return book
  • Purchase book
Sale of Goods by Mohan to Sohan for 
1000 will be recorded in the ________.
  • Cash Book.
  • Sales Book.
  • Journal.
  • Purchase book.
The balance of an account is always known by the side which is _______________.
  • Shorter
  • Higher
  • Equal
  • None of these
It is easy to transmit the shares in case of Demat form.
  • True
  • False
NSZ. Ltd. makes payments to its sundry creditors through cheques and the cash discount received on these payments is recorded in the triple-columnar cash book. In the event of dishonour of any such cheques, the discount so received should be written back through - 
(i) A debit to discount column of the cash book. 
(ii) A credit discount column of the cash book. 
(iii) A credit to bank column of the cash book. 
(iv) A debit to discount account through journal proper.
(v) A credit to creditor's account through journal proper. 
Select the correct answer from the options given below- 
  • Only (ii) of the above
  • Only (i) of the above
  • Both (i) & (ii) of the above
  • Both (iv) & (v) of the above
Small payments are recorded in a book called _____________.
  • Cash book
  • Small payments book
  • Purchase book
  • Petty cash book
The words 'To Balance b/f' or 'By Balance c/f' are recorded in the particulars column at the time of _________________.
  • Journalising
  • Balancing
  • Carry forwarding
  • Both (b) & (c)
Mohan purchased a machinery amounting Rs.10,000 on 1.4.2010.
On 31.3.2019, similar machinery could be purchased for Rs.20,000 but the realizable value of the machinery (purchased on 1.4.2010) was estimated at Rs.15,The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs 12,000.
The realizable value of machinery is _____________.
  • Rs. 10,000
  • Rs.20,000
  • Rs.15,000
  • Rs.12,000
Cash sales for Rs $$5,00,000$$ will be recorded in __________.
  • Ledger
  • Cash Book
  • General Book
  • Sales Book
Rs. 3,750 paid on account of salary to the cashier Dhawan stands debited to his personal account. Which of the following rectification entry is correct?
  • Suspense /c Dr. 3,750

    To Dhawan A/c 3,750
  • Dhawan A/c Dr. 3,750

    To Suspense A/c 3,750
  • Salaries A/c Dr. 3,750

    To Suspense A/c 3,750
  • Salaries A/c Dr. 3,750

    To Dhawan A/c 3,750
An amount of Rs. 8,000 received on account of interest was credited to Commission Account. Which of the following rectification entry is correct?
  • Commission A/c Dr. 8,000

    To Suspense A/c 8,000
  • Interest A/c Dr. 8,000

    To Suspense A/c 8,000
  • Interest A/c Dr. 8,000

    To Commission A/C 8,000
  • Commission A/c Dr. 8,000

    To Interest A/c 8,000
The words 'To Balance b/f' or 'By Balance b/f' are recorded in the 'Particular Column' at the time of posting of _________________.
  • all compound entries
  • an opening entry
  • a closing entry
  • an adjusting entry
  • a transfer entry.
Sale of Machinery by Mr. X, a dealer in stationery to Mr. Y for 120000 is recorded in _______________.
  • Cash Book.
  • Sales Book.
  • Purchases Book.
  • Journal Proper.
Purchase of Machinery from Mr. X, a dealer in machinery for Rs. 100,000 is recorded in _______________.
  • Cash Book.
  • Sales Book.
  • Purchases Book.
  • Journal Proper.
Goods costing Rs.10,000 given s charity should be credited to ________________.
  • Purchase Account
  • Sales Account
  • Cash Account
  • Drawing Account
A cheque of Rs.112 received from a debtor recorded twice in the cash book. When the balance as per Cash  Book is the starting point.
  • Rs. 112 to be added
  • Rs. 112 to be subtracted
  • No adjustment is required
  • None of these
Returns of goods sold for cash Rs. 500 to Ram are recorded in ______.
  • Sales Book.
  • Sales Returns Book.
  • Journal Proper.
  • Cash Book.
Which of the following is a cash transaction?
  • Sold goods
  • Sold goods to Ram
  • Sold goods to Ram on credit,
  • Sold goods to Ram on account.
Normally, the following accounts are balanced ____________________.
  • Personal Accounts and Nominal Accounts
  • Real Accounts and Nominal Accounts
  • Personal Accounts and Real Accounts
  • Personal, Real and Nominal Accounts
A cheque of Rs. 2,345 issued by Miss Meena was recorded in deposit column as Rs. 2,To ascertain the balance as per Cash Book of Miss Meena ____________________________.
  • Rs. 3,345 should be added to the balance as per Pass Book
  • Rs. 2, 435 should be subtracted from the balance as per Pass Book
  • Rs. 4,780 should be subtracted from the balance as per Pass Book
  • Rs. 10 should be added to the balance as per Pass Book
Goods has been received from the manufacturer for distribution among the customers as free samples. These are recorded in _________________.
  • Purchases Book.
  • Purchase Returns Book.
  • Journal Proper.
  • None of these.
Goods costing Rs.10,000 taken by the proprietor for personal use should be credited to _______________.
  • Purchase Account
  • Sales Account
  • Cash Account
  • Drawing Account
The X sends goods on approval basis as follows:
The stock of goods sent on approval basis on 31st March will be:
Date January 2016Customers NameSales price of goods sent RsGoods Accepted RsGoods returned Rs
9
11
16
23		A
B
C
D		10000
9000
8000
9000		8000
9000
-
2000		2000
-
8000
7000
The stock of goods sent on approval basis on 31st March will be
  • Rs. 2000
  • Nil
  • Rs 7000
  • None of the above
Cash book is a form of _____________.
  • Trial balance
  • Ledger
  • Journal
  • All of the above
A bill receivable of Rs.1,000, which was received from a debtor in full settlement for a claim of Rs.1100, dishonoured. It is to be recorded in _______________.
  • Purchases Return Book.
  • Bills Receivable Book.
  • Purchases Book.
  • Journal Proper (General Journal)
On 31st March goods sold at a sale price of Rs. 60,000 were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sates. Since no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet, the stock with customers account will be shown at ____________.
  • Rs. 60,000
  • Rs.48,000
  • Rs.40,000
  • Rs. 50,000.
Goods brought in by the proprietor as his capital contribution are recorded in _______.
  • Purchases Book.
  • Cash Book.
  • Journal Proper.
  • None of the above.
Interest accrued for the month of March will be recorded in:
  • Purchases Book.
  • Sales Book.
  • Cash Book.
  • Journal Proper.
Under Sales or Return or approval basis when the transactions are large and the seller sends the goods on approval or return basis, the accounting treatment will be - 
  • No Journal Entry
  • Entry in Sales or Return Journal
  • Entry in Sales or Return Day Book
  • Sundry Debtors A/c Dr.

    To Sales A/c
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Practice Class 11 Commerce Accountancy Quiz Questions and Answers