CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Recording And Posting Of Cash Transactions Quiz 1 - MCQExams.com

Contra entry appears in ______________.
  • Purchases Returns book
  • Cash book
  • Journal proper
  • All of the above
Rs $$3,50,000$$ cash paid to creditors for settlements of credit purchases will be recorded in _______________.
  • Sales Book
  • Purchase Book
  • Journal Proper (General Journal)
  • Cash Book
Cash book is prepared on.....
  • Accrual basis
  • Cash basis
  • Hybrid basis
  • Single entry system basis
Book keeping is meant to show all the transactions.
  • Of the whole year
  • Of the accounting period
  • Of half year
  • All of the above
The balance of the Petty Cash Book is ___________.
  • An asset
  • A liability
  • An income
  • An expenditure
The credit balance in the bank account is_______.
  • An asset
  • A liability
  • An expense
  • Contingent liability
A Cheque received and paid into the bank on the same day is recorded in the ____________.
  • Cash column of the cash book
  • Bank column of the cash book
  • Both the cash and bank columns of the book
  • The credit balance as per pass book
Cash book prepared on imprest system is_________.
  • Two Column Cash Book
  • Cash Book
  • Petty Cash Book
  • Purchase Book
The discount column of a triple column cash book records __________.
  • Trade discount
  • Cash discount
  • Quantity discount
  • Seasonal discount
The cash book records ____________.
  • All cash payments
  • All cash receipts
  • All cash receipts and payments
  • Only credit payments
Petty cash may be used to pay _________.
  • The expenses relating to postage and conveyance
  • Salaries and wages to the final staff
  • For the purchase of furniture and fittings
  • Other recurring expenses
The balance of cash account indicates ___________.
  • Net income for the Period
  • Net loss for the Period
  • Net worth of the Business
  • Net cash on Hand
When furniture is sold for cash, the entry should be made in ________.
  • Sales book
  • Cash book
  • Journal
  • Petty cash book
The credit balance of bank account indicates________.
  • Amount payable by the bank
  • Amount payable to the bank
  • Cash at bank
  • Loan from bank
The 'imprest system' is used in relation to _______________.
  • Purchase book
  • Sales book
  • Cash book
  • Petty cash book
The word "Petty" is derived from ______________.
  • French word
  • German word
  • Latin word
  • Greek word
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
Credit balance of bank account in cash book shows ______________.
  • Overdraft
  • Cash deposited in our bank
  • Cash withdrawn from bank
  • None of the above
Petty means ____________.
  • Small
  • Aggregate
  • Shop
  • Large
Payment of rent is debited to cash A/c.
  • True
  • False
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
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
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 
Transaction recorded both on debit and credit side of cash book is known as contra entry.
  • True
  • False
Cash book does not record the _________ transactions.
  • Cash
  • Purchase
  • Credit
  • All of the above
The amount paid to the petty cashier at the beginning of a period is known as __________ amount.
  • Imprest
  • Credit
  • Idle
  • None of these
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers