Free Printable JOURNAL

1.

Journal is called a book of

a)

(a) primary entry

b)

(b) secondary entry

c)

(c) final entry

d)

(d) none of the above

2.

Business transactions are recorded

a)

(a) in chronological order

b)

(b) weekly

c)

(c) at the end of the month

d)

(d) all of these

3.

A compound journal entry

a)

(a) has equal debits and credits

b)

(b) generally extends to several pages

c)

(c) does not require narration

d)

(d) all of these

4.

Which of the following accounts will be credited on giving cash donation ?

a)

(a) Cash A/c

b)

(b) Donation A/c

c)

(c) Purchases A/c

d)

(d) None of these

5.

A sale of goods to Ram for cash is debited to

a)

(a) Ram

b)

(b) Cash

c)

(c) Sales

d)

(d) None of these

6.

A withdrawal of cash from business by the proprietor is credited to

a)

(a) Drawings A/c

b)

(b) Capital A/c

c)

(c) Cash A/c

d)

(d) None of these

7.

First computers purchased computers from HCL Ltd. and availed both trade discount and cash discount. The transactions recorded in the books of account will be for :

a)

(a) Net invoice value and cash discount

b)

(b) Trade discount , gross invoice value and cash discount

c)

(c) none of the above

d)

(d) any of (a) and (b)

8.

Trade discount allowed is deducted from the gross sales. Sales is recorded in the business books of account at :

a)

(a) Gross sales and trade separately

b)

(b) Net sales invoice

c)

(c) None of the above

d)

(d) Any of (a) and (b)

9.

Trade discount received on purchases is recorded in the books of account as follows :

a)

(a) Trade discount is credited to discount received account

b)

(b) Trade discount is deducted from the invoice price and recorded at net value

c)

(c) None of the above

d)

(d) Any of (a) and (b)

10.

Cash discount allowed is recorded in the books of account as follows :

a)

(a) Cash discount is debited to discount allowed account

b)

(b) Cash discount is reduced from the invoice price

c)

(c) None of the above

d)

(d) Any of (a) and (b)

11.

Nominal accounts are related to ?

a)

(a) assets and liabilities

b)

(b) expenses and incomes

c)

(c) customers and creditors

d)

(d) none of these

12.

Goods worth Rs.50 was given as charity should be credited to :

a)

(a) Purchases account

b)

(b) Charity account

c)

(c) Sales account

d)

(d) Cash account

13.

The rule for personal account is ________ the receiver and _______ the giver.

(a)

14.

The basic rule of book - keeping 'debit the receiver and credit the giver' ?

a)

(a) personal a/c

b)

(b) real a/c

c)

(c) nominal a/c

d)

(d) none of these

15.

Sale of goods to X will be debited to ?

a)

(a) cash a/c

b)

(b) sales a/c

c)

(c) X a/c

d)

(d) none of these

JOURNAL

Total questions: 15

Worksheet time: 8mins

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