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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 31st March, 2005. Insurance paid Rs.4,000 (including premium of Rs.3,000 per annum paid upto 30th 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 10th 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