CBSE Questions for Class 11 Commerce Accountancy Recording Of Transactions - Ii Quiz 2 - MCQExams.com

The word "Petty" is derived from ______________.
  • French word
  • German word
  • Latin word
  • Greek word
Purchase book is also known as __________.
  • Bought book
  • Purchase day book
  • Invoice book
  • All of the above
Petty means ____________.
  • Small
  • Aggregate
  • Shop
  • Large
Cash sales are recorded in the ________.
  • Sales book
  • Cash book
  • Journal book
  • Purchase book
Which of the following books should be used to record purchase of merchandise on account?
  • Cash book.
  • Purchase book.
  • Sales book.
  • Journal.
Which of the following is not a part of the sales book?
  • Day book
  • Sold book
  • Sales journal
  • Invoice book
Petty cash system is designed ________________.
  • To meet the needs of small businesses
  • To cover small and miscellaneous income
  • To cover the small expenditure to be paid in cash
  • To cover both small incomes and expenditure
How does an over casting of purchase day book affect the cost of sales and profit?
  • Cost of sales is decreased while profit is increased.
  • Cost of sales is increased while profit is decreased.
  • Both cost of sales and profit are increased.
  • Cost of sales is increased, gross profit is decreased, but net profit remains unaffected.
Which sales are recorded in Sales (Journal) Book?
  • Cash sales of goods.
  • Credit sales of goods.
  • Cash Sales of furniture.
  • Credit Sales of furniture.
Transaction in respect of consignment and joint venture are recorded in______.
  • Cash book
  • Purchase book
  • Journal proper
  • Sales book
The accounts of expenses/losses and gains/revenues are balanced _________.
  • Daily
  • Monthly
  • Yearly
  • None of the above
Journal proper maintained to record transactions which _______.
  • Do not find place
  • Have large amount
  • Special in nature
  • All of the above
When a transaction has not been recorded in the books of account either wholly or partially, then such errors are called ____________.
  • Error of commission
  • Error of omission
  • Compensating error
  • Error of principle
 The words ___________ are written against the amount of the difference between the two sides.
  • Balance amount
  • Balance b/d
  • Balance c/d
  • Balance cash
Source documents for recording entries in the purchase book.
  • Invoices received by the firm from seller
  • Invoice received by the purchaser
  • Invoices received by seller from firm
  • All of the above
A purchase book records _____________________.
  • All type of purchase
  • Only credit purchase of merchandise
  • Only purchase returns
  • Both cash and credit purchases of merchandise
Posting from the purchases journal is done______ to their respective accounts.
  • Weekly
  • Yearly
  • Monthly
  • Daily
The 'imprest system' is used in relation to _______________.
  • Purchase book
  • Sales book
  • Cash book
  • Petty cash book
Which of the following is not treated as an internal evidence of audit for returns of goods?
  • Copies of Sales Challan.
  • Goods received Note.
  • Copies of Cash Memo.
  • Debit Notes.
Petty cash system is designed to _____________.
  • Meet the needs of small business
  • Cover small and miscellaneous income
  • Cover small expenditure to be paid in cash
  • Cover both small incomes and expenditures
Sales on credit is recorded in __________.
  • Cash book
  • Sales book
  • Journal
  • None of the above
Total of the Sales Book for March indicates _________.
  • The total sales for the month
  • Total credit sales for the month
  • Total cash sales for the month
  • Total sales less sales return
Double column cash book records ___________________.
  • All transactions
  • Cash and bank transactions
  • Only cash transactions
  • Only credit transactions
Which of the following have contra entries?
  • Simple cash book.
  • Double column cash book.
  • Three column cash book.
  • Both (B) & (C).
Cash sales are recorded in __________.
  • Sales Book
  • Cash book
  • Journal
  • None of the above
The total of the sales book is posted to the credit of the ___________.
  • Purchase Account
  • Capital Account
  • Sales Account
  • None of the above
When a firm maintains a cash book, it need not maintain _______________.
  • Journal Proper
  • Purchase(journal)book
  • Sales(journal)book
  • Bank and cash account in the ledger
Credit balance shown by a bank column in cash book is ______.
  • Cash
  • Overdraft
  • Cash credit
  • None of the above
Total of the debit side of cash book is ___ than the credit side.
  • More
  • Equal to
  • Less 
  • None of these 
Credit balance of bank account in cash book shows ______________.
  • Overdraft
  • Cash deposited in our bank
  • Cash withdrawn from bank
  • None of the above
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