JOURNAL

What is the primary purpose of a journal in accounting?

• To calculate profit

• To record transactions initially

• To prepare a trial balance

• To post to the ledger

Which of the following is also known as the book of original entry?

• Ledger

• Trial Balance

• Journal

• Balance Sheet

Which of these is a type of special journal?

• General Journal

• Ledger Journal

• Cash Flow Journal

• Sales Journal

What type of transaction is recorded in the purchases journal?

• Cash sales

• Credit sales

• Credit purchases

• Cash purchases

The returns outwards journal records:

• Goods returned by customers

• Goods returned to suppliers

• Cash payments

• Purchase of fixed assets

The sales journal is used to record:

• All sales including cash and credit

• Only cash sales

• Only credit sales

• All purchase transactions

Which of the following journals is used to record transactions that do not fit into special journals?

• Sales journal

• General journal

• Purchases journal

• Cashbook

Which column is not found in the format of a typical journal?

• Date

• Particulars

• Folio

• Inventory

The returns inwards journal is also known as:

• Sales returns journal

• Purchases returns journal

• Cash receipts journal

• Sales ledger

What is recorded in the general journal?

• Only sales

• Only purchases

• Unusual or infrequent transactions

• Only cash payments