Journal

Q.

What is the entry passed when goods are bought on credit?

1. Creditors A/c Dr

   To Purchase A/c

2. None of these

3. Purchase A/c Dr

   To Creditors A/c

4. Purchase A/c Dr

   To Cash A/c

Q.

What is meant by Journal proper ?

Q.

What is the main function of accounting?

Q.

Credit purchases can be obtained by preparing:

1. Cash Book

2. Debtors account

3. Creditors account

4. Statement of affairs

Q.

Purchase of goods on credit from a is recorded as: A. Debit Purchase a/c ; credit cash a/c B. Debit A a/c ; credit purchase a/c C. Debit purchase a/c ; credit As a/c D. Debit A a/c ; Credit stock a/c

Q. The accounting transactions are recorded in the journal in order.

1. Numerical
2. Chronological
3. Alphabetical
4. Random

Q.

____ is the evidence that a transaction took place.

1. Journal

2. Source Documents

3. Bonds

4. Ledgers

Q.

A written explanation below each journal entry is known as:

1. Details

2. Entry

3. Narration

4. Additional Data

Q.

Informal communication is also called_________.

1. Wheel communication

2. Grapevine

3. Visual

4. Verbal

Q.

What do you understand by relationship type? How is it different from relationship instance and relationship set?

Q.

In which of the following orders data is entered in a journal?

1. Alphabetical Order

2. Numerical Order

3. Chronological order

4. Bullets order

Q.

When bank column of a cash book shows a credit balance, what does it mean?

Q.

Give the advantages of a journal.

Q.

What do you mean by Posting?

Q.

Journal is a book of secondary entry?

Q.

The basic accounting equation is:

1. Asset = Expense + Income

2. Assets = Capital + Liabilities
   

3. Assets = Cash + Capital
   

4. Assets = Expenses + Capital

Q. is evidence that a transaction took place in the business entity.

1. Source documents
2. Ledgers
3. Bonds
4. Journal

Q.

In a Journal Entry, ___ is used before the name of the account to be credited.

1. And

2. Or

3. By

4. To

Q.

Fill in the blanks with suitable prepositions: Write this exercise either ______ ink or ______ pencil. (a) With/no preposition (b) In/in (c) By/by (d) Of/of

Q.

The standard format of journal does not include which of the following?

1. Description

2. Amount column

3. Assets column

4. Date Column

Q.

When an entry is to be made in the journal, ___.

1. Accounts to be debited are listed first

2. Accounts to be credited are listed first

3. Accounts may be listed in any order

4. Accounts to be debited are listed second

Q.

Which of the following statement is true about jounal?

1. Journal is a book of accounts in which all day to day business transactions are recorded in a chronological order.

2. It is called as Book of original entry

3. It is the book in which transactions are recorded for the first time.

4. All the above

Q.

Identify the preposition(s) in the following sentences: I sat on the chair near the door.

1. chair, door

2. on, the, near

3. on, near

4. I

Q.

Which financial statements are prepared under IFRS?

Q. A written explanation below each journal entry is known as .

1. reference
2. narration
3. quotation
4. note

Q. When rent is paid to the landlord, account is credited.

1. rent
2. landlord
3. cash
4. prepaid rent

Q.

Where Did Rajvir And Pranjol Study?

Q. Total error calculation formula?

Q.

Which of the following is not another name for journal?

1. Day Book

2. Original book of entry

3. Sales & Purchase Book

4. Book of Primary Entry

Q.

Which of the following accounts is used to initially record a deferral? Find the Answer at BYJUS

1. Interest payable.

2. Interest revenue.

3. Supplies.

4. Supplies expense.