source document and subsidiary book

source document and subsidiary book

1st Grade

10 Qs

quiz-placeholder

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source document and subsidiary book

source document and subsidiary book

Assessment

Quiz

Business

1st Grade

Medium

Created by

Lenata Yorde

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

books where transactions are first recorded before posting to the ledger are

subsidiary book

journal

trial balance

cash book

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a book used to record the transaction of goods bought on credit is called

sales day book

purchase day book

journal

returns inwards

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a book used to record the transaction of goods sold on credit is called?

sales day book

purchase day book

journal proper

returns outwards

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a book used to record all cash and cheque transaction is called?

cash book

journal

purchase book

returns book

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

itunu bought 5 packets of tea at 15 naira each, less trade discount of 10 percent, what is the price of the goods after discount

75naira

67.5 naira

69naira

80 naira

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a customer is overcharged, what document is issued to him

debit note

purchase return

sales return

credit note

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

one of these serves as an evidence of payment

invoice

debit note

receipt

purchase note

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