Books of Accounts (11-20)

11. Record goods return inward?

(a) Debit sale account and credit payable account

(b) Debit returns inward account and credit payable account

(c) Debit returns inward account and credit receivable account

(d) Debit receivables account and credit return inward account

Correct! Wrong!

12. If a company uses special journals, purchase of supplies on account should be recorded in which journal?

(a) Cash receipts journal

(b) Purchases journal

(c) Cash disbursements journal

(d) General journal

Correct! Wrong!

13. Which of the following is the correct journal entry to record a credit note issued to a customer for goods returned?

(a) Debit Sales returns and Credit Cash

(b) Debit Cash and Credit Sales returns

(c) Debit Trade receivables and Credit Sales returns

(d) Debit Sales returns and Credit Trade receivables

Correct! Wrong!

14. Adjustment is to record depreciation at the end of the month in?

(a) Cash Payments Journal

(b) Cash Receipts Journal

(c) General Journal

(d) Purchases Journal

Correct! Wrong!

15. Mr. Ali buys goods on credit from Star Co. but finds that some of them are faulty. What document would Mr. Ali return to Star Co. with the faulty goods?

(a) Statement

(b) Debit note

(c) Sales invoice

(d) Purchase invoice

Correct! Wrong!

16. Which of the following book(s) is (are) a part of Journal?

(a) Cash Book

(b) Purchase Return Book

(c) Purchase Book

(d) All of the given options

Correct! Wrong!

17. If a company uses special journals, credit sales should be recorded in which journal?

(a) General journal

(b) Purchases journal

(c) Sales journal

(d) Cash receipts journal

Correct! Wrong!

18. Receipt of cash from sale of office equipment recorded in?

(a) Cash Payments Journal

(b) Cash Receipts Journal

(c) Purchases Journal

(d) General Journal

Correct! Wrong!

19. If a company uses special journals, purchase of a building financed by a mortgage payable should be recorded in which journal?

(a) Sales journal

(b) General journal

(c) Cash receipts journal

(d) Purchases journal

Correct! Wrong!

20. Cash book is a?

(a) Voucher

(b) General Journal

(c) General Ledger

(d) Dual Book

Correct! Wrong!

11. Record goods return inward?

12. If a company uses special journals, purchase of supplies on account should be recorded in which journal?

13. Which of the following is the correct journal entry to record a credit note issued to a customer for goods returned?

14. Adjustment is to record depreciation at the end of the month in?

15. Mr. Ali buys goods on credit from Star Co. but finds that some of them are faulty. What document would Mr. Ali return to Star Co. with the faulty goods?

16. Which of the following book(s) is (are) a part of Journal?

17. If a company uses special journals, credit sales should be recorded in which journal?

18. Receipt of cash from sale of office equipment recorded in?

19. If a company uses special journals, purchase of a building financed by a mortgage payable should be recorded in which journal?

20. Cash book is a?

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