CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Journal Quiz 3 - MCQExams.com

Goods given as charity should be credited to _________.
  • purchase account
  • charity account
  • sales account
  • trading account
Goods given away as charity would be credited to _______________.
  • Sales A/c
  • Purchase A/c
  • Charity A/c
  • Cash A/c
Goods destroyed by fire should be credited to ___________.
  • goods lost by fire account
  • sales account
  • purchase account
  • cash account
When the claim on account of loss of stock is fully recoverable from the insurance company, the journal entry will be ______________________.
  • Cash A/c Dr.

    To Insurance Claim
  • Insurance Claim A/c Dr.

    To Trading A/c
  • Trading A/c Dr.

    To Insurance Claim A/c
  • Insurance Claim A/c Dr.

    To P and L A/c
If the goods purchases are in transit, then the journal entry to record will be _______________.
  • Purchase A/c Dr.

    To Supplier's A/c
  • Goods-in-transit A/c Dr.

    To Purchase A/c
  • Goods-in-transit A/c Dr.

    To Supplier's A/c
  • Supplier's A'c Dr.

    To Goods-in-transit
When a large number of articles are sent on a sale or return basis, it is necessary to maintain __________________.
  • Sale journal
  • Goods returned journal
  • Sale or return journal
  • Any one of these
The withdrawal of goods from the business by the  proprietor should be debited to ______________.
  • Drawing account
  • Purchase account
  • Capital account
  • P & L A/c
In certain jobs, for example, hotels farms, hospitals, the employees are given the facility of residing in a house free of rent or they are given meals or clothes, water etc. A transfer of the proportionate amount is essential to salaries or wages account. Entry for this is ________________.
  • Meals A/c Dr.

    Water A/c Dr.

    Apartment A/c Dr.

    To Salaries or Wages A/c
  • Salaries or Wages A/c Dr

    To Meals A/c

    To water A/c

    To Apartment A/c
  • Cash A/c Dr.

    To Meals A/c

    To Water A/c

    To Apartment A/c
  • Meals A/c Dr.

    Water A/c Dr.

    Apartment A/c Dr.

    To Cash A/c
Wages paid to Mohan for erecting a machine should be debited to ___________.
  • Wages A/c
  • Machine A/c
  • Mohans A/c
  • Cash A/c
When the claim on account of loss of stock is partly accepted by the insurance company, the journal entry will be _________________________.
  • Insurance Claim A/c   Dr.
    Profit and loss A/c  Dr.
                                  To Purchases/ Goods lost in accident A/c
  • Insurance Claim A/c  Dr.
                                    To Trading A/c
  • Insurance Claim A/c  Dr.
                               To Profit and loss A/c
  • Insurance Claim A/c   Dr.
    Trading A/c  Dr.
                                To Profit and loss account
A closing entry of sales account, which appears on the credit side of trial balance is as under _________________.
  • Sales A/c Dr.

    To P and L A/c
  • Sales A/c Dr.

    To Trading A/c
  • Trading A/c Dr.

    To Sales A/c
  • P and L A/c Dr.

    To Sales A/c
_______ is used to record the details of bills receivable by the business organization.
  • Purchases Book
  • Bills Payable Book
  • Bills Receivable Book
  • None of the above
What will be the necessary adjusting closing entry for the following adjustment as on $$31^{st}$$ March, $$2005$$. Insurance paid $$Rs. 4,000$$ (including premium of $$Rs. 3,000$$ per annum paid upto $$30^{th}$$ June, $$2005$$________________________.
  • Insurance prepaid A/c Dr. $$Rs. 750$$

    To Insurance A/c $$Rs. 750$$
  • Insurance A/c Dr. $$Rs. 750$$

    Insurance prepaid A/c $$Rs. 750$$
  • Insurance A/c Dr. $$4000$$

    To cash A/c $$4000$$
  • Insurance A/c Dr. $$3000$$

    To cash A/c $$3000$$
Discount allowed is a kind of deduction from _________.
  • Account payable
  • Account receivable
  • Cash account
  • Discount account
The prime entry for the acquisition of a cash book, ledgers and a journal for Rs 240 from X Ltd, on credit would be in the:
  • Journal
  • purchases Day Book
  • Cash Book
  • None of the above
The following comments below relate to the recording of journal entries. Which statement is true?
  • For any given journal entry, debits must exceed credits.
  • It is customary to record credits on the left and debits on the right.
  • The chart of accounts reveals the amount to debit and credit to the affected accounts.
  • Journalization is the process of converting transactions and events into debit/credit format.
Which of the following specialized journals will record "goods returned by the business"?
  • Purchase journal
  • Sales journal
  • Purchases return journal
  • Sales return journal
Which of the following statement is incorrect with respect to a journal entry?
  • It is prepared to record all transactions in alphabetical order.
  • It should always end with a narration explaining the need for it.
  • It should be substantiated by appropriate voucher and authority.
  • It should always consist of a debit entry matched by a corresponding credit entry.
A Company makes a purchase on $$10^{th}$$ may some office equipment . The correct journal entry will be
DebitCredit
1Office equipmentSupplier
2Purchases Office equipment
3Accounts payableOffice equipments
4Office equipmentAccounts receivable
  • 1
  • 2
  • 3
  • 4
If salary is given to proprietor ______________________.
  • Proprietors salary account is debited
  • Capital account is credited
  • Both a & b
  • None of the above
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers