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Accounting Mcqs

Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?

  • (A)  Cash payments journal
  • (B)  Cash receipts journal
  • (C)  Purchases return journal
  • (D)  General journal
Submitted By :Ali Uppal


Sales on credit is recorded in which of the following journal?

  • (A)  Purchase journal
  • (B)  Sales journal
  • (C)  Purchases return journal
  • (D)  Sales return journal
Submitted By :Ali Uppal


Which of the following specialized journals records “goods returned by customers”?

  • (A)  Purchase journal
  • (B)  Sales journal
  • (C)  Purchases return journal
  • (D)  Sales return journal
Submitted By :Ali Uppal


Which of the following account with normal balance is shown at the credit side of a trial balance?

  • (A)  Cash account
  • (B)  Bank account
  • (C)  Equipment account
  • (D)  Accrued expenses account
Submitted By :Ali Uppal


Which of the following account with normal balance is shown at the debit side of a trial balance?

  • (A)  Rent income account
  • (B)  Creditors account
  • (C)  Unearned income account
  • (D)  Cash account
Submitted By :Ali Uppal


Credit memo or credit note No. is entered in which of the following journal?

  • (A)  General journal
  • (B)  Cash journal
  • (C)  Purchase journal
  • (D)  Sales return day book
Submitted By :Ali Uppal


BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?

  • (A)  Cash receipts journal
  • (B)  Cash payments journal
  • (C)  Sales journal
  • (D)  Purchase journal
Submitted By :Ali Uppal


Which of the following is known as an evidence that a transaction took place?

  • (A)  Cash receipts journal
  • (B)  General journal
  • (C)  Source document
  • (D)  Cash book
Submitted By :Ali Uppal


Specialized journals are more adequate for which TYPE OF BUSINESSES?

  • (A)  Small businesses
  • (B)  Big businesses
  • (C)  Sole proprietorship
  • (D)  Partnership
Submitted By :Ali Uppal


Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

  • (A)  Purchase journal
  • (B)  Sales return journal
  • (C)  General journal
  • (D)  Cash receipt journal
Submitted By :Ali Uppal