Question # 1

Sales returns book periodical total is posted to

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Debit of returns inwards account

Credit of returns inwards account

Debit of returns outwards account

Credit of returns outwards account

Which book is used to record all cash receipts and cash payments?

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Sale book

Purchase book

Cash book

Petty cash book

The book which is used to record all goods returned by us to our supplier is called

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Returns inwards book

Purchases book

Return outwards book

Sales book

The book which is used to record all goods returned to us by our customers is called

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Returns outwards book

Returns inwards book

Sales book

Cash book

All the transactions related to credit sales are recorded in

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Sales returns book

Sales book

Cash book

Credit note book

A book which is used to record small expenses is called

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Expenses book

Cash book

Petty cash book

Purchases book

A document is sent to customer when he returns the goods is called

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Promissory note

Debit note

Currency note

Credit note

All the acceptances received from the debtors are recorded in

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Cash book

Bills payable book

Debtor's book

Bills receivable book

The periodical total of purchases book is posted to the

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Debit of purchases account

Credit of purchases account

Credit of cash account

Debit of sales account

Which book is used to record all credit purchases?

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Purchases book

Purchases book return

Cash book

Debit note book

A document given by the seller to the buyer for credit sale of goods or assets is called

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Cash memo

Invoice

Voucher

None of these

The periodical total of purchases returns book is posted to

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Debit of returns outwards account

Credit of returns inwards account

Debit of returns inwards accounts

Credit of returns outwards account

Bill receivable book represents

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Ledger

Journal

Trail balance

All of above

All the bills given to the creditors are recorded in

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Creditor's book

Bills payable book

Bills receivable book

Bank book

The cash book is a book of

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Compound entry

Original entry

Final entry

Simple entry

Subsidiary books are called books of

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Original entry

Secondary entry

Final entry

Basic entry

When the goods are returned to the suppliers, an intimation is sent to them is called

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Currency note

Invoice

Debit note

Credit note

Both cash purchases as well as credit purchases are recorded in

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Cash book

Purchase book

Purchases account

None of these

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Principles of accounting Icom Part 1 English Medium Chapter 7 Online Test MCQs With Answers

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