MCQs 1 To 10
1. Bill payable book is a?
2. The return of goods by a customer should be debited to?
3. An alternative name for a sales journal is?
4. Which of the following is not a book of prime or original entry?
5. There are two books of account they are?
6. X sends back Rs. 80 of faulty goods to Y. In which book of prime entry would Y record this transaction?
7. A bookkeeper discovers that an amount paid to a supplier has been wrongly entered in another supplier’s account. Which book of original entry will the bookkeeper use when correcting this error?
8. Which of the followings are books of prime entry?
9. Transactions are initially recorded in the?
10. Corrected the balance in the prepaid insurance at the end of the month in?
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MCQs 11 To 20
11. Record goods return inward?
12. If a company uses special journals, purchase of supplies on account should be recorded in which journal?
13. Which of the following is the correct journal entry to record a credit note issued to a customer for goods returned?
14. Adjustment is to record depreciation at the end of the month in?
15. Mr. Ali buys goods on credit from Star Co. but finds that some of them are faulty. What document would Mr. Ali return to Star Co. with the faulty goods?
16. Which of the following book(s) is (are) a part of Journal?
17. If a company uses special journals, credit sales should be recorded in which journal?
18. Receipt of cash from sale of office equipment recorded in?
19. If a company uses special journals, purchase of a building financed by a mortgage payable should be recorded in which journal?
20. Cash book is a?
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>> Practice Books of Accounts Problems and Solutions.
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.
Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.
Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.
Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.