CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Recording And Posting Of Cash Transactions Quiz 4 - MCQExams.com

The Cash Book records ________________.
  • All Cash Receipts
  • All Cash Payments
  • All Cash Receipts and Payments
  • Cash and Credit Sale of Goods.
Total of debit side discount column of cash book is posted to ______________.
  • Cr. of Discount Received A/c
  • Dr. of Discount Received A/c
  • Cr. of Discount Allowed A/c
  • Dr. of Discount Allowed A/c
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
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
Cash discount allowed by the seller is accounted for as _____ by the buyer.
  • Purchase A/c Dr.
  • Cash book Dr.
  • Discount received A/c Cr.
  • Drawing A/c Cr.
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
Contra entries are passed when ___________.
  • Subsidiary books are not maintained
  • Petty cash book is opened
  • Two column Cash book is prepared
  • When accounts are prepared on single entry system basis
The amount which the main cashier hands over to the petty cashier to meet day to day petty expenses is known as.....
  • advance
  • loan
  • imprest / float
  • all the three
Cash discount is given to .
  • Boost sales
  • Make early payment before due date
  • To evade tax
  • All the three
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
Cash paid on account of purchase of goods on cash payment would be recorded in.............
  • Sales journal
  • Cash payment journal
  • Debtors ledger
  • Sales day book
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
A credit purchase of trading goods will be recorded in .........
  • Purchase journal
  • Purchase A/c
  • Cash payment Journal
  • Petty Cash book
Excess of total of debit side of cash book over credit side of cash book shows....
  • Excess of income over expenditure
  • Cash in hand
  • Discrepancy in cash book
  • Cheques awaiting clearance by bank
The balance in the Petty Cash Book represents income.
  • True
  • False
Which of these are not to be recorded in cash book.
  • Goods worth Rs.5,000 sold on three months credit.
  • Interest paid Rs.3,000
  • Cash received from the client
  • Cheque dishonoured
Cash book starts with ______
  • cash/bank balance in hand
  • no balance
  • opening stock
  • debtors a/c
X intends to earn a 20% profit margin on selling price, what should be the mark up on cost price to get the desired profit margin
  • 20%
  • 33%
  • 25%
  • 30%
In a three column cash book which of these column is not balanced?
  • Discount
  • Cash
  • Bank
  • None
Cash in hand with the petty cashier is shown as....
  • Assets
  • Liabilities
  • Expense
  • Revenue
The balance in the Petty Cash Book represents expenses.
  • True
  • False
Discount column should be balanced in the Cash Book.
  • True
  • False
Balance in petty cash book represents.
  • Outstanding expenses
  • Prepaid expenses
  • Cash balance
  • Net profit
Which of these transaction is shown as contra entry-
  • Cash deposited with bank
  • Discount received
  • Discount allowed
  • Payment to sundry creditor
The opening balance on the debit side of the bank column in Cash Book indicates ___________.
  • The total amount withdrawn from the bank
  • The total amount deposited in the bank
  • Cash at bank
  • Bank overdraft.
The balance in the petty cash book is ____________.
  • an expense
  • a profit
  • an asset
  • a liability
An allowance was offered for an early payment of cash will be recorded in the ___________.
  • sales book
  • cash book
  • journal proper (General Journal)
  • purchase book
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers