UNIT 02

11th accountancy unit -6

UNIT -6

  

Choose the correct answer

 

1. Purchase book is used to record
   1.   all purchases of goods
   2.   all credit purchases of assets
   3.   all credit purchases of goods
   4.   all purchases of assets
2. A periodic total of the purchases book is posted to the
   1.   debit side of the purchases account
   2.   debit side of the sales account
   3.   credit side of the purchases account
   4.   credit side of the sales account
3. Sales book is used to record
   1.   all sales of goods
   2.   all credit sales of assets
   3.   all credit sales of goods
   4.   all sales of assets and goods
4. The total of the sales book is posted periodically to the credit of
   1.   Sales account
   2.   Cash account
   3.   Purchases account
   4.   Journal proper
5. Purchase returns book is used to record
   1.   returns of goods to the supplier for which cash is not received immediately
   2.   returns of assets to the supplier for which cash is not received immediately
   3.   returns of assets to the supplier for which cash is received immediately
   4.   none of the above
6. Sales return book is used to record
   1.   Returns of goods by the customer for which cash is paid immediately
   2.   Returns of goods by the customer for which cash is not paid immediately
   3.   Returns of assets by the customer for which cash is not paid immediately
   4.   Returns of assets by the customer for which cash is paid immediately
7. Purchases of fixed assets in credit basis is recorded in
   1.   Purchases book
   2.   Sales book
   3.   Purchases return book
   4.   Journal proper
8. The source of document or voucher used for recording entries in sales book is
   1.   Debit note
   2.   Credit note
   3.   Invoice
   4.   Cash receipt
9. Which of the following statements is not true?
   1.   Cash discount is recorded in the books of accounts
   2.   Assets purchased on credit are recorded in journal proper
   3.   Trade discount is recorded in the books of accounts
   4.   3 grace days are added while determining the due date of the bill
10. Closing entries are recorded in
    1.   Cash book
    2.   Ledger
    3.   Journal proper
    4.   Purchases book

Vetrikodikattucommerce