CBSE Questions for Class 11 Commerce Accountancy Recording Of Transactions - Ii Quiz 6 - MCQExams.com

Which of these will not be recorded in cash book/account?
  • Two months rent of Rs. 5000 paid in advance
  • One year insurance premium Rs.9000 paid in advance
  • Goods purchased on 3 months credit
  • Goods worth Rs. 5900 sold cash
Goods worth Rs.45,000 sold to Tarun for credit will be recorded in ___________.
  • Cash book
  • Sales book
  • Journal book
  • Stock register
In cash book with discount column, total of discount column of credit side of the cash book is posted to the________.
  • Dr. of Discount Allowed A/c
  • Dr. of Discount Received A/c
  • Cr. of Discount Allowed A/c
  • Cr. of Discount Received A/c
Rent outstanding for the month of February will appear_________.
  • on the debit side of the cash book
  • on the credit side of the cash book
  • as a contra entry in the cash book
  • no entry in the cash book
Goods worth Rs. 45,000 sold to Tarun for cash will be recorded in_________.
  • Cash book
  • Sales book
  • Journal book
  • Stock register
Goods worth Rs.15,000 purchased from Tarun for cash will be recorded in________.
  • Cash book credit side
  • Sales book
  • Journal book
  • Stock register
Rent for the month of April paid in advance in the month of March will be shown_____.
  • payment side (credit) of cash book
  • receipt (debit) side of cash book
  • no entry
  • trial balance
Cash purchase of new plant is initially recorded in ________.
  • Purchase Day Book
  • Cash Book
  • Plant A/c
  • Any of the Above
Credit sales of trading goods is initially recorded in____________.
  • Sales Day Book
  • Cash Book
  • Directly in Purchase A/c
  • Any of the above three
Depreciation provision on fixed assets is journalized in__________.
  • general journal
  • fixed assets journal
  • profit and loss account
  • any of the above
Purchase A/c will have _______.
  • debit balance
  • credit balance
  • nil
  • debit or credit balance
Credit purchase of new plant is initially recorded in_____________.
  • purchase day book
  • cash book
  • directly in plant A/c
  • general journal
Cash sales of trading goods is initially recorded in ________.
  • Sales Day Book
  • Cash Book
  • Directly n Sales A/c
  • All the above
Credit purchase of trading goods is initially recorded in________.
  • purchase day book
  • cash book
  • directly in purchase A/c
  • any of the above three
An undervaluation of current year's closing inventory will.........
  • Causes current year's net income to be overstated
  • Causes subsequent year's net income to be overstated
  • Causes previous year's net income to be understated
  • Causes subsequent year's income to be unafected
Purchase of computer by a computer dealer on credit is recorded in_____.
  • Cash book
  • Computer A/c
  • Fixed Assets A/c
  • Purchase day book
A seller on receipt of returned goods sends note to the party who return the goods, the note is called _____.
  • Debit note
  • Credit note
  • Refund note
  • Return note
Purchase day book is opened to record __________.
  • All trading purchases
  • All trading purchases other than on cash basis
  • All trading purchase other than on credit basis
  • All purchases of value less than Rs. $$5,000$$ per invoice
A petty cash book is meant for which of these payments.......
  • To pay small day to day expenses like postage, telegraph
  • To pay statutory liabilities like income tax, sales tax
  • To discharge bank obligations
  • To pay for purchase of trading goods
When the goods are returned, the supplier sent a _________. 
  • Debit Note.
  • Credit Note.
  • Demand Draft.
  • Legal Notice.
From the following details find the revised current ratio of $$ABC$$Ltd. if the trade debtors amounting to Rs. $$5000$$ are realized in cash. Cash in hand Rs. $$5000$$, Stock in trade Rs. $$15,000$$, Prepaid Expenses A/c Rs. $$3000$$, Plant Rs. $$20,000$$, Miscellaneous expenses to be written off Rs. $$2000$$, Creditors Rs. $$10,000$$, Bills payable Rs. $$3000$$, Outstanding Expenses Rs. $$1000$$, Capital $$30,000$$, Profit and surplus Rs. $$6000$$
  • $$1:2$$
  • $$3:2$$
  • No change
  • $$3:1$$
When the goods are returned, the supplier sent a ________.
  • debit note
  • credit note
  • demand draft
  • none of above.
A contra entry is one which ____________.
  • affects both the sides of the same A/c book
  • affects both the sides of the trial balance
  • affects one side of a real A/c and another side of a personal A/c
  • affects both the sides of the same types of A/c
The term Imprest system is related to.........

  • Petty cash
  • Inventory valuation
  • Classification of assets
  • None
Which of these is/are not included in sales A/c?
  • Sale of office equipment
  • Sale of raw materials
  • Sale of manufactured goods
  • Sale of purchased trading goods
Which of these accounts can have credit balance also
  • Cash in hand A/c
  • Cash at Bank A/c
  • Stock in trade A/c
  • Accounts receivable A/c
Which of these are not to be recorded in cash book
  • Sundry purchase of Rs. 1,000 to be paid after 3 months
  • Salary paid Rs. 3,000
  • Cash received from the client
  • Cheque received
Over statement of purchase day book will lead to......
  • Over statement of gross profit
  • Under statement of gross profit
  • Over statement of trade creditors
  • Under reporting of sales
When a person purchasing goods on credit he becomes ______ in the books of the seller
  • Creditor
  • Debtor
  • Defaulter
  • Offender
Which of these is not shown in Cash book.
  • goodwill written off
  • income received in advance
  • outstanding expenses paid
  • payment of interest to debenture holders
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Practice Class 11 Commerce Accountancy Quiz Questions and Answers