Special Journal

Q.

Give the meaning of Accounting.

Q.

Despite a number of advantages, a journal also suffers from various limitations. Give any three such limitations.

Q. Which of the following is not a book of prime or original entry?

1. Purchase Journal
2. Sales Journal
3. Debtor`s Account
4. Cash book

Q.

Accounting records business transactions and events which are of a financial nature.Is this a limitation of accounting?

Q.

Briefly state how the cash book is both journal and a ledger.

Q.

Give the characteristics of Journal.
.

Q.

Credit purchases of Plant & Machinery is recorded in which of the following specialized journals?

1. Journal Proper

2. Purchase Journal

3. Purchase Return Journal

4. Cash Receipts Journal

Q.

What is book keeping? Explain its objectives.

Q.

What Is Intra B Commerce?

Q.

Transactions that a business doesn`t record in any of the special journals are recorded in which of the following journals/ day books?

1. Cash Payments Journal

2. Cash Receipts Journal

3. Purchase Return Journal

4. Journal Proper

Q.

Sale of old furniture on credit shall be recorded in which of the following specialized journals?

1. Sales Journal

2. Purchase Journal

3. General Journal

4. Sales Return Journal

Q.

What do you mean by drawings?

Q.

Books maintained under double entry system are more reliable as compared to when maintained under single entry system. Comment.

Q.

Give the similarities of cash book with a journal.

Q. Select the most appropriate alternatives from those given below :

Credit purchase of machinery is recorded in the ________
a) purchase book
b) cash book
c) journal proper
d) returns outward book

Q.

Specialized Journals are more adequate for which type of business?

1. Small Businesses

2. Partnership

3. Big Businesses

4. Sole Proprietorship

Q.

Describe the events recorded in accounting systems and the importance of source documents in those systems?

Q.

State anyone feature of incomplete records ?

Q.

Which of the following is incorrect with regards to special journals?

1. A special journal records cash transactions only

2. It’s a place where similar transactions can be recorded and organized, so bookkeepers and accountants can keep track of different business activities.

3. Special journals are designed as a simple way to record the most frequently occurring transactions.

4. A special journal is any accounting journal in the general journal that is used to record and post transactions of similar types.

Q.

What are two useful features of a cash book?

Q. State whether the following statements are true or false :

In Book-keeping & Accountancy non-monetary transactions are also recorded.

Q. Updating and treatment of wrong transactions are easily done under computerised system.

1. True
2. False

Q. difference between journal proper and general journal and only journal.

Q.

Which of the following books does not record the movement of inventory?

1. Purchase Journal

2. Sales Journal

3. General Journal

4. Purchase Return Journal