Form 3 P.O.A review quiz

Which stage of the accounting cycle is day books found?

• first

• third

• second

• fourth

___________________ is used to record purchases on credit.

• sales day book

• debit note

• purchases day book

• returns inward day book

Another name of returns outward is _______________.

• purchases return

• sales return

• credit note

• stock

Goods sold for cash is to be recorded at follows:

• debit goods, credit cash

• debit cash, credit stock

• debit cash, credit sales

• debit purchases, credit cash

Goods to returned to the supplier is called ________________.

• sales return

• returns outwards

• sales

• purchases

A proprietor introduces an additional $3000 cash into the business, which of the following accounts will be affected?

• Drawings and cash

• cash and capital

• proprietor and cash

• business and cash

____________________records receipts and payments of cash and bank.

• Petty cash book

• general journal

• Cash book

• day book

Based on the information provided, which book of original entry is this?

• Sales day book

• Purchases day book

• Returns inwards day book

• Returns outwards day book

Bought fixtures and fittings from J. Thompson Ltd is to be recorded as follows:

• debit fixtures and fittings, credit J. Thompson Ltd

• debit J. Thompson Ltd, credit fixtures and fittings

• debit J. Thompson Ltd, debit fixtures and fittings

• credit fixtures and fittings, credit J. Thompson Ltd

All of the following are to be debited EXCEPT

• expenses

• sales

• when assets increases

• when lability decreases