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
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 Cash withdrawn from the bank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
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