Quiz on Subsidiary Books

Transactions recorded in the purchase book include only purchase of goods on credit

• True

• False

Transactions regarding the purchase of Fixed Asset are recorded in the purchase book

• True

• False

Cash Sales are recorded in the sales book

• True

• False

Purchase book plays the role of journal as well as ledger

• True

• False

Total of Return Outward book is posted on the credit side of Purchase Book

• True

• False

Purchase of second hand Furniture on Credit will be recorded in purchase book

• True

• False

Purchase Return book is also known as Return Inward Book

• True

• False

Subsidiary books are also known as book of original entry

• True

• False

If Purchase Return and Sales Return Book is maintained

• Purchase Return A/c is not maintained in Ledger

• Sales Return A/c is not maintained in Ledger

• Purchase Return as well as Sales Return A/c are not maintained in ledger

• Purchase Return as well as Sales return A/c are maintained in Ledger

Sales book is meant for

• All Cash Sale of Goods

• All Credit Sale of Goods

• Cash as well as Credit Sale of goods

• Any Credit Sales