Recording Of Transactions CBSE Questions & Answers

Recording Of Transactions

This is Accountancy Class 11 Recording of Transactions CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
In Purchase book goods purchased on .........are recorded.
  • A
    Cash Only
  • B
    Credit Only
    Correct
  • C
    Both
  • D
    None of these
2
In all circumstances Assets will be always equal to _____ + ______
  • A
    Capital, Liabilities
    Correct
  • B
    Cash, Liabilities
  • C
    Capital, Cash
  • D
    All of these
3
Transfer voucher is prepared for
  • A
    Cash sale
  • B
    Cash Purchase
  • C
    Payment of salary for cash
  • D
    Purchase return and sales return
    Correct
4
The company pays its creditors by cheque. What is the effect on assets and liabilities
  • A
    Reduce Bank and Reduce Liability
    Correct
  • B
    Increase Bank and Reduce Capital
  • C
    Increase Bank and Increase Capital
  • D
    Reduce Bank and Increase Capital
5
The company has collected money from its debtors by cheque.What is the effect on assets and liabilities
  • A
    Decrease debtor
  • B
    No effect
    Correct
  • C
    Decrease creditors
  • D
    Increase Creditors
6
In which book credit sales of goods are recorded
  • A
    Purchase Return Book
  • B
    Sales Return book
  • C
    Purchase Book
  • D
    Sales Book
    Correct
7
Which document evidencing that the account of the named person is debited for the reason stated therein
  • A
    Credit note
  • B
    Debit Note
    Correct
  • C
    Cash Memo
  • D
    Cheque
8
Example of an assets is
  • A
    The capital of the company
  • B
    A loan given to the company
  • C
    Factory owned by the company
    Correct
  • D
    Amount owned by the company to one of its suppliers for the purchase of goods
9
Which of the following is not an assets
  • A
    Land
  • B
    Loan
    Correct
  • C
    Building
  • D
    Investment
10
Which of the following is a liability
  • A
    Cash in hand
  • B
    Factory owned by the firm
  • C
    Money owned by the firm
  • D
    An overdrawn balance on the firm’s bank account
    Correct
11
Which of the following statement is correct
  • A
    When assets increase are credited
  • B
    When assets increase are debited
    Correct
  • C
    When assets decrease are debited
  • D
    When assets increase are debited and credited
12
Source of documents are
  • A
    Cash Memo
  • B
    None
  • C
    Invoice
  • D
    Both
    Correct
13
The final balance of purchase book is debited to :
  • A
    Stock account
  • B
    Purchase return account
  • C
    Sales account
  • D
    Purchases account
    Correct
14
The periodic total of purchases return journal is posted to :
  • A
    Furniture account
  • B
    Purchase returns account
    Correct
  • C
    Profit and loss account
  • D
    Purchase account
15
Which voucher is prepared for the payment of salary, purchase of goods, payment made to any creditor etc.
  • A
    None of these
  • B
    Debit voucher
    Correct
  • C
    Both
  • D
    Creditor voucher