TOPIC 2 POP QUIZ DPA10183

Journal is a day book in which all transaction entries are recorded in chronological order.

• FALSE

• TRUE

What types of source document used in credit transactions only.

• Receipt

• Cash bill

• Invoice

• Cheque

Evidence that payment has been made by cheque is called

• Cheque butts

• Cheque receipt

• Memos

• Cheque in

What books of original entry used to record credit purchases?

• Cash book

• Sales Journal

• Purchase Return Journal

• Purchase Journal

Drawings of goods can be recorded in

• General Journal

• Cash Book

• Purchase Journal

• Sales Day Book

If there is cash payment, what types of book of original enty involved.

• Purchase Journal

• Sales Journal

• Cash Book

• Petty Cash Book

Sold goods to Siva on credit. What type of Book of Original entry involved?

• Cash Book

• Sale Journal

• Sales Return Journal

• Purchase Journal

ABC Computer Enterprise started its business with cash and bank. It decided to buy furniture for its business. Furniture is under category of_________________

• Goods

• Non-Current Assets

• Currents Asset

• Liability

Which of the following consist in Non-Current Assets?

• Land and Building

• Cash

• Office Equipment

• Bank

• Furniture

Which of the following is a liability?

• Creditor/Account Payable

• Land and Building

• Bank

• Debtor/ Account Receivable