CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Ledger Quiz 4 - MCQExams.com

Which of the following is a book of original entry and also part of the ledger?
  • The Journal
  • The Cash Book
  • The Purchase Book
  • The Sales Book
If the closing inventory is valued at cost price and the prices are falling, which of the following method of inventory valuation would show more net income
  • LIFO
  • FIFO
  • Standard cost
  • Base stock price method
Which of the following transactions is not posted in the Cash Book?
  • Withdrew from bank for business purpose
  • Withdrew from bank for personal use
  • Withdrew cash for personal use.
  • Credit Sales
A transaction recorded on the credit side of cash book is transferred to the ledger _______________.
  • On debit side of the account
  • On credit side of the account
  • Is not posted anywhere
  • Either (a) or (b).
A transaction recorded on the debit side of cash book is transferred to the ledger _________________.
  • On the debit side of the account
  • On the credit side of the account
  • Is not posted anywhere
  • Both (a) and (b).
Balance of cash book is posted to the ledger ______________.
  • In the cash account
  • In bank account
  • Nowhere
  • Either (a) or (b).
Income received in advance is a .......
  • Real A/c
  • Nominal A/c
  • Personal A/c
  • Intangible A/c
Goods taken by proprietor for domestic use should be credited to ___________.
  • sales account
  • proprietor's personal expenses
  • purchases account
  • expenses account
If the total of credit side of an account exceeds the total of its debit side, it indicates ________________.
  • Debit balance
  • Income
  • Losses
  • Credit balance
Goods given as charity should be credited to _________ account.
  • Charity 
  • Sales 
  • Purchase 
  • Cash 
The objectives of preparing a Ledger are ____________.
  • to ascertain the debtors and creditors of the business
  • to ascertain the financial position of the business
  • to ascertain the profit or loss of the business
  • All of the above
L.F. (i.e., Ledger Folio) column in the journal is filled at the time of _________.
  • journalising
  • balancing
  • posting
  • casting
Payment of Rs. 6,000 as wages to workmen for installation of a machine should be debited to _________.
  • Wages A/c
  • Repairs A/c
  • Machinery A/c
  • Cash A/c
Posting means the recording of a transaction _____________.
  • In any two accounts.
  • On the debit side of an account related to that transaction.
  • On the credit side of an account related to that transaction.
  • On the proper side of two accounts related to that transaction.
Posting refers to the process of transferring information from _________.
  • journal to ledger accounts
  • general ledger accounts to journals
  • source documents to journals
  • journals to source documents
Ledger book is popularly known as _________.
  • secondary book of accounts
  • principal book of accounts
  • subsidiary book of accounts
  • none of the above
Function of the ledger is _____________.
  • to calculate the total debit and credit of the company
  • to prepare the summary of each account
  • to record all the transactions in a period.
  • All of the above
This is NOT the function of ledger.
  • To classify all the items
  • To put all the items at application accounts
  • Both a & b
  • None of the above
Which of the following accounts will not show a Debit balance?
  • Sales Account
  • Machinery Account
  • Salary Account
  • Purchase Account
_________ is the principal book of accounts where similar transactions relating to a particular person or property or revenue or expense are recorded.
  • Ledger
  • Journal
  • Purchases returns books
  • Sales book
In the Sale or Return Ledger _________________.
  • All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.
  • All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.
  • All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.
  • Any one of the above
If the total of debit side of an account exceeds the total of its credit side, it indicates ______________.
  • Debit balance
  • Credit balance
  • Either (a) or (b)
  • Neither (a) nor (b)
The process of transferring the transactions relating to changes in a particular item at one place in the form of an account is called _________.
  • Journalising 
  • Balancing
  • Posting
  • Casting
Ledger is the ____ of accounts where similar transactions relating to a particular person or property or revenue or expense are recorded.
  • Principal book
  • Primary entry book
  • Third entry book
  • None of above
The total number of sales can be known from the ________.
  • Discount account
  • Cash book
  • Sales account
  • All of these
Which of the following types of information are found in subsidiary ledgers, but not in the general ledger?
  • Total cost of goods sold for the period.
  • The quantity of a particular product sold during the period.
  • The amount owed to a particular creditor.
  • The portion of total current assets that consist of cash.
Sales or Return Day Book are known as ______________.
  • Principal Books
  • Subsidiary Books
  • Memorandum Books
  • None of these
In the ledger only __________ accounts are maintained.
  • personal
  • real
  • nominal
  • all of the above
The following relate to the recording process. Which of these statements is correct?
  • The general ledger is chronological record, of transactions.
  • The general ledger is posted from transactions recorded in the general journal
  • The trial balance provides the primary source document for recording transactions into the journal.
  • Transposition is the transfer of information from the general journal to the general ledger.
X deposited rupees 500 in bank account ____________.
  • Bank account will be credited
  • Bank account will be debited
  • Saving account will be debited
  • All of the above
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers