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

image
image
image

Principles of accounting Icom Part 1 English Medium Online Test

Sr. # Questions Answers Choice
1 When money is paid to a creditor or supplier a receipt is obtained from him which is called Cash voucher Cash payment Receipt voucher Payment voucher
2 When cash is received from debtor or customer, generally a receipt is issued to the debtor which is called Payment voucher Receipt voucher Cash voucher None of these
3 The book in which all cash transaction are primarily recorded is called Pass book Cheque book Finance book Cash book
4 A document given by the seller to the buyer for credit sale of goods or assets is called Cash memo Invoice Voucher None of these
5 The periodical total of purchases returns book is posted to Debit of returns outwards account Credit of returns inwards account Debit of returns inwards accounts Credit of returns outwards account
6 Sales returns book periodical total is posted to Debit of returns inwards account Credit of returns inwards account Debit of returns outwards account Credit of returns outwards account
7 Both cash purchases as well as credit purchases are recorded in Cash book Purchase book Purchases account None of these
8 The periodical total of purchases book is posted to the Debit of purchases account Credit of purchases account Credit of cash account Debit of sales account
9 The cash book is a book of Compound entry Original entry Final entry Simple entry
10 A document is sent to customer when he returns the goods is called Promissory note Debit note Currency note Credit note
11 When the goods are returned to the suppliers, an intimation is sent to them is called Currency note Invoice Debit note Credit note
12 A book which is used to record small expenses is called Expenses book Cash book Petty cash book Purchases book
13 Bill receivable book represents Ledger Journal Trail balance All of above
14 All the bills given to the creditors are recorded in Creditor's book Bills payable book Bills receivable book Bank book
15 All the acceptances received from the debtors are recorded in Cash book Bills payable book Debtor's book Bills receivable book
Download This Set
×