Sales Return Book

Q.

Which source document is used for recording entries in Sales Book?

Q.

What is the process of recording business transactions called?

Q.

Goods distributed as free samples are recorded at which value and why?

Q.

A Credit Note is the basis for recording a transaction in which of the following?

1. Sales Journal

2. Purchase Journal

3. Purchase Return Journal

4. Sales Return Journal

Q.

Mention the subsidiary books in which the following transactions are recorded with reason thereof.

(i) Purchase of furniture on credit for use in a shop.

(ii) Sale of goods on credit.

(iii) Goods returned by debtors

(iv) Purchase of stock on credit.

(v) Providing for interest on capital to a proprietor.

(vi) Goods returned to creditors.

(vii) Sale of goods for cash.

Q.

Which of the following statement is true?

1. Bank charges increase debit balance as per bank pass book

2. A credit sale is recorded in the cash book

3. Bank reconciliation statement is prepared by a bank

4. Bank charges increase debit balance shown as per bank column of the cash book

Q.

Credit sales are recorded in a

1. Sales Book

2. Cash Book

3. Journal Book

4. Purchases Book

Q.

The total of Sales Return book is posted to the ___ of sales return account.

1. None of the above

2. Credit

3. Debit

4. Either debit or credit

Q.

Which of the following specialised journals record the " goods returned by customers"?

1. Purchase Journal

2. Sales Journal

3. Purchase Return Journal

4. Sales Return Journal

Q.

What is a sales ledger?

Q.

How to export a fixed assets register in tally?

Q.

X sends back Rs 8000 of faulty goods to Y. In which of the following books of prime entry would Y record this transaction.

1. Purchase Journal

2. Sales Journal

3. Purchase Return Journal

4. Sales return Journal

Q.

Is it correct to say that sales book is a record prepared from invoices issued to customers?

Q.

How to open fixed asset register in tally?

Q.

What do you mean by programmed and casual reports?

Q.

cash memo is used for credit purchasesale

Q.

Is it correct that individual accounts of customers is debited by the respective amount and the total of the sales book is posted to the credit side of the sales account in the general ledger ?

Q.

What do you mean by programmed or casual reports?

Q. Select the most appropriate alternative.

Which document is prepared when the goods are sold on Credit
(a) Credit memo
(b) Cash memo
(c) Cash voucher
(d) Petty cash voucher

Q.

What is the purchase book used for?

Q.

State true or false: Journal entry for transfer of purchase return is - Purchase return a/c dr. To Trading A/c

Q.

Which of the following is incorrect with regards to the sales return book?

1. Records the value of goods returned to the business by buyers, dealt with by the issue of credit notes

2. A chronological listing of sales returns

3. Used to keep a list of all the invoices sent out to customers each day

4. Referred to as a 'book of prime entry' or 'primary record'.

Q.

Credit note number is updated in _______ books

1. Purchase Return Book

2. Purchase Book

3. Sales Book

4. Sales Return Book

Q. System in which entry is recorded for cash as well as credit transactions is known as _____________.

1. Credit system
2. Cash system
3. Accrual System
4. Non-accrual system

Q.

difference between purchase book and purchase accounting

Q.

The realisation concept determines when goods sent on credit to customers are to be included in the sales figure for the purpose of computing the profit or loss for the accounting period. Which of the following trends to be used in practice to determine when to include a transaction in the sales figure for the period. When the goods have been

(a) dispatched

(b) invoiced

(c) delivered

(d) paid for

Give the reason for your answer.

Q. Identify a suitable notice headline for the following:
All employees at your company have been asked to bring their salary slips of the previous month to the office. A notice regarding the same has been put up at the office entrance.

1. salary slips required
2. All employees must bring their salary slips
3. Salary Slips Required
4. Bring your salary slip!

Q. Give the word term or phrase which can substitute each of the following statements :

System in which entry is recorded for cash as well as credit transactions.

Q. Source document on the basis of which Purchase Book is prepared ____________.

1. Outward invoice
2. Sales invoice
3. Inward invoice
4. None of the above

Q. Write short note on the following.

Contents of credit memo