Important Questions for Chapter 4 Recording of Transactions 2

Important Questions with Answers for Class 11 CBSE Accountancy Chapter 4 Recording of Transactions 2 which is outlined by expert Accountancy teachers from the latest version of CBSE (NCERT) books.

CBSE Class 11 Accountancy Chapter – 4 Important Questions

Question 1

When a firm maintains a cash book, it need not maintain

1.Journal Proper

2. Purchases (journal) book

3. Sales (journal) book

4. Bank and cash account in the ledger

Answer: Bank and cash account in the ledger

Also Check: Important Questions Chapter 5 Bank Reconciliation statement

Question 2

Double column cash book records:

1. All transactions

2. Cash and bank transactions

3. Only cash transactions

4. Only credit transactions

Answer: Cash and bank transactions

Question 3

Goods purchased on cash are recorded in the

1. Purchases (journal) book

2. Sales (journal) book

3. Cash book

4. Purchases return (journal) book

Answer: Cash book

Question 4

Cash book does not record the transaction of

1. Cash nature

2. Credit Nature

3. Cash and credit nature

4. None of these

Answer: Credit Nature

Question 5

Total of these transactions is posted in purchase account

1. Purchase of furniture

2. Cash and credit purchase

3. Purchases return

4. Purchase of stationery

Answer: Cash and credit purchase

Question 6

The periodic total of sales return journal is posted to

1. Sales account

2. Goods account

3. Purchases return account

4. Sales return account

Answer: Sales return account

Question 7

The credit balance of bank account in cash book shows

1. Overdraft

2. Cash deposited in our bank

3. Cash is withdrawn from the bank

4. None of these

Answer: Cash deposited in our bank

Question 8

The periodic total of purchases return journal is posted to

1.Purchase account

2.Profit and loss account

3. Purchase returns account

4. Furniture account

Answer: Purchase returns account

Question 9

Balancing of account means

1. Total of debit side

2. Total of credit side

3. A difference in the total of debit & credit

4. None of these

Answer: A difference in the total of debit & credit

Question 10

Journal is a book of secondary entry. Is it true or false?

Answer: False

Question 11

One debit account and more than one credit account in an entry are called compound entry. Is it true or false?

Answer: True

Question 12

Assets sold on credit are entered in the sales journal. Is it true or false?

Answer: False

Stay tuned to BYJU’S for more CBSE Class 11 Accountancy important questions, question papers, sample papers, syllabus and Commerce notifications.