Teaching Accountancy Accounting Process : Journal to Trial Balance Question Bank

done MCQ - Accounting Process: Journal to Trial Balance Total Questions - 70

• question_answer1)
  Double entry system’s rule ‘Debit the receiver and credit the giver’ is applicable to
  A)
   Personal account                       done clear
  B)
   real account done clear
  C)
   Nominal account                       done clear
  D)
   joint account done clear
  View Solution play_arrow

• question_answer2)
  How many columns are there in a journal?
  A)
   Three                                       done clear
  B)
   Four done clear
  C)
   Five                                         done clear
  D)
   Six done clear
  View Solution play_arrow

• question_answer3)
  No Journal entry is made for
  A)
   Brokerage                                 done clear
  B)
   cash discount done clear
  C)
   Trade discount                           done clear
  D)
   commission done clear
  View Solution play_arrow

• question_answer4)
  The main object of ledger is to ascertain
  A)
   Total sales done clear
  B)
   Total purchases done clear
  C)
   profit or loss of the business done clear
  D)
   Net effect of all the similar nature transactions done clear
  View Solution play_arrow

• question_answer5)
  If a trial balance does not agree, then accountant opens
  A)
   Drawing account                        done clear
  B)
   suspense account done clear
  C)
   Capital account                         done clear
  D)
   nominal account done clear
  View Solution play_arrow

• question_answer6)
  Bad debts account is related to
  A)
   Personal account                       done clear
  B)
   real account done clear
  C)
   Nominal account                       done clear
  D)
   suspense account done clear
  View Solution play_arrow

• question_answer7)
  Balance of the cash book is........
  A)
   Debit and credit                         done clear
  B)
   debit or credit done clear
  C)
   Debit                                        done clear
  D)
   credit done clear
  View Solution play_arrow

• question_answer8)
  The book containing a chronological record of transactions is called
  A)
   Journal                                     done clear
  B)
   ledger done clear
  C)
   Trial balance                             done clear
  D)
   balance sheet done clear
  View Solution play_arrow

• question_answer9)
  The amount brought in by the proprietor in the business should be credited to
  A)
   cash account                             done clear
  B)
   capital account done clear
  C)
   drawings account                       done clear
  D)
   income account done clear
  View Solution play_arrow

• question_answer10)
  0.   r Practice Drawing account of the proprietor is a
  A)
   personal account                        done clear
  B)
   real account done clear
  C)
   nominal account                        done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer11)
  Bank account is a
  A)
   personal account                        done clear
  B)
   real account done clear
  C)
   nominal account                        done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer12)
  Purchases account is a
  A)
   real account                              done clear
  B)
   nominal account done clear
  C)
   personal account                        done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer13)
  The proprietor withdrew cash ` 1000 for his personal use, the account to be debited
  A)
   capital account done clear
  B)
   drawings account done clear
  C)
   loan A/c of the proprietor done clear
  D)
   trade expenses A/c done clear
  View Solution play_arrow

• question_answer14)
  An example of personal account is
  A)
   Machinery account done clear
  B)
   Purchases account done clear
  C)
   Prepaid expenses account done clear
  D)
   Stock account done clear
  View Solution play_arrow

• question_answer15)
  Trial balance is a
  A)
   Ledger account                          done clear
  B)
   statement done clear
  C)
   List of debtors                           done clear
  D)
   list of creditors done clear
  View Solution play_arrow

• question_answer16)
  Which of the following items is treated as tangible fixed asset?
  A)
   Goodwill                                   done clear
  B)
   Land and building done clear
  C)
   Trade mark                               done clear
  D)
   Copyrights done clear
  View Solution play_arrow

• question_answer17)
  Office equipment purchased on credit will be recorded in the
  A)
   purchase account done clear
  B)
   office equipment account done clear
  C)
   goods account done clear
  D)
   capital account done clear
  View Solution play_arrow

• question_answer18)
  Outstanding salaries are shown as
  A)
   an expense                                done clear
  B)
   a liability done clear
  C)
   an asset                                    done clear
  D)
   a loan done clear
  View Solution play_arrow

• question_answer19)
  An entry with more than one debit and credit is called
  A)
   opening entry                            done clear
  B)
   transfer entry done clear
  C)
   compound entry                        done clear
  D)
   closing entry done clear
  View Solution play_arrow

• question_answer20)
  A loss arising due to fire is
  A)
   Real Account                             done clear
  B)
   Personal Account done clear
  C)
   Suspense Account                      done clear
  D)
   Nominal Account done clear
  View Solution play_arrow

• question_answer21)
  Credit balance of nominal accounts indicates
  A)
   expenses and losses in business done clear
  B)
   profit of the business done clear
  C)
   income and gains in the business done clear
  D)
   assets of business done clear
  View Solution play_arrow

• question_answer22)
  The return of goods by a customer should be debited to
  A)
   customer account                       done clear
  B)
   goods account done clear
  C)
   sales returns account                  done clear
  D)
   sales account done clear
  View Solution play_arrow

• question_answer23)
  Sales Return Journal is also known as
  A)
   returns inward journal done clear
  B)
   returns outward journal done clear
  C)
   purchase journal done clear
  D)
   sales journal done clear
  View Solution play_arrow

• question_answer24)
  The process of taking entries from subsidiary Books to ledger is called
  A)
   journalising                                done clear
  B)
   transferring done clear
  C)
   posting                                     done clear
  D)
   balancing done clear
  View Solution play_arrow

• question_answer25)
  Any difference in Trail Balance must be entered in
  A)
   capital account                          done clear
  B)
   suspense account done clear
  C)
   nominal account                        done clear
  D)
   drawing account done clear
  View Solution play_arrow

• question_answer26)
  Suspense Account is appearing in Trial Balance is shown in
  A)
   trading account done clear
  B)
   profit and loss account done clear
  C)
   balance sheet done clear
  D)
   ledger account done clear
  View Solution play_arrow

• question_answer27)
  The discount column in triple cash book records
  A)
   cash discount                            done clear
  B)
   trade discount done clear
  C)
   seasonal discount                       done clear
  D)
   customer discount done clear
  View Solution play_arrow

• question_answer28)
  Ledger is a principle book in which
  A)
   all accounts are kept done clear
  B)
   only personal accounts are kept done clear
  C)
   only real accounts are kept done clear
  D)
   only nominal accounts are kept done clear
  View Solution play_arrow

• question_answer29)
  The balance of petty cash book is
  A)
   an asset                                    done clear
  B)
   a liability done clear
  C)
   an income                                 done clear
  D)
   an expenditure done clear
  View Solution play_arrow

• question_answer30)
  Outstanding expenses are shown as
  A)
   an expense                                done clear
  B)
   an income done clear
  C)
   a liability                                  done clear
  D)
   an asset done clear
  View Solution play_arrow

• question_answer31)
  Goods sold on credit are recorded in
  A)
   cash book                                 done clear
  B)
   sales book done clear
  C)
   sales return book                        done clear
  D)
   journal done clear
  View Solution play_arrow

• question_answer32)
  Goodwill account is a
  A)
   real account                              done clear
  B)
   nominal account done clear
  C)
   personal account                        done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer33)
  Bad debts recovered account is a
  A)
   personal account                        done clear
  B)
   nominal account done clear
  C)
   real account                              done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer34)
  The process of recording a transaction in the journal is called
  A)
   journalising                                done clear
  B)
   costing done clear
  C)
   posting                                     done clear
  D)
   tallying done clear
  View Solution play_arrow

• question_answer35)
  Normally...........are balanced.
  A)
   Personal accounts and nominal accounts done clear
  B)
   Real accounts and nominal accounts done clear
  C)
   Personal accounts and real accounts done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer36)
  Which of the following account has a credit balance?
  A)
   Carriage inward                         done clear
  B)
   Carriage outward done clear
  C)
   Return inward                            done clear
  D)
   Return outward done clear
  View Solution play_arrow

• question_answer37)
  Cash book is used to record
  A)
   all receipts only done clear
  B)
   all payments only done clear
  C)
   all cash and credit sales done clear
  D)
   all receipts and payments of cash done clear
  View Solution play_arrow

• question_answer38)
  Sales book is used to record
  A)
   all sales of goods done clear
  B)
   all credit sales done clear
  C)
   all credit sales of assets other than goods done clear
  D)
   all credit sales of goods done clear
  View Solution play_arrow

• question_answer39)
  Which of the following books is not a book of original entry?
  A)
   The journal done clear
  B)
   The ledger done clear
  C)
   The cash book done clear
  D)
   The bills receivable book done clear
  View Solution play_arrow

• question_answer40)
  The 'impress system' is used in relation to
  A)
   purchases book                          done clear
  B)
   cash book done clear
  C)
   sales book                                 done clear
  D)
   petty cash book done clear
  View Solution play_arrow

• question_answer41)
  "Discount allowed for a prompt payment received by a concern". Name the book of original entry would the stated transaction be entered.
  A)
   journal proper                            done clear
  B)
   cash book done clear
  C)
   purchases book                          done clear
  D)
   sales book done clear
  View Solution play_arrow

• question_answer42)
  Which of the following accounts is increased by debit entries?
  A)
   Machinery account done clear
  B)
   Purchase return account done clear
  C)
   Discount earned account done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer43)
  "Goods, the payment of which is due after 2 months, were sold to M/S Bell and Co. for ` 1000". ‘Name the book of original entry would the stated transaction be entered.
  A)
   cash book                                 done clear
  B)
   purchases book done clear
  C)
   sales book                                 done clear
  D)
   journal proper done clear
  View Solution play_arrow

• question_answer44)
  The left side of an account is called
  A)
   debit side                                  done clear
  B)
   income side done clear
  C)
   credit side                                 done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer45)
  The right side of an account is called
  A)
   credit side                                 done clear
  B)
   debit side done clear
  C)
   income side                               done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer46)
  If you purchase goods from Ram on credit then the two accounts involved are            
  A)
   purchases account and goods account done clear
  B)
   Ram’s account and sales account done clear
  C)
   purchases account and Ram’s account done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer47)
  If you pay salary to your clerk, the accounts involved are
  A)
   salary account                           done clear
  B)
   cash account done clear
  C)
   Both  and                                 done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer48)
  'Theft by burglars' is an example of
  A)
   expenses                                   done clear
  B)
   assets done clear
  C)
   losses                                       done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer49)
  'Acquiring trade mark' is an example of
  A)
   expenses                                   done clear
  B)
   assets done clear
  C)
   losses                                       done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer50)
  A set of accounts is called
  A)
   rules                                         done clear
  B)
   account books done clear
  C)
   procedures                                done clear
  D)
   ledger done clear
  View Solution play_arrow

• question_answer51)
  Both journal and ledger are the important books used under
  A)
   double entry system                   done clear
  B)
   single entry system done clear
  C)
   accrual system                           done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer52)
  Cash book records only one aspect of transaction i.e.
  A)
   credit                                        done clear
  B)
   cash done clear
  C)
   Both (a) and (b) done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer53)
  Petty cash book is maintained by separate person called
  A)
   manager                                   done clear
  B)
   finance manager done clear
  C)
   petty cashier                              done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer54)
  General Journal is also known as
  A)
   Journal proper                           done clear
  B)
   general accounts done clear
  C)
   General ledger                           done clear
  D)
   journal book done clear
  View Solution play_arrow

• question_answer55)
  Bills receivable book is a part of
  A)
   Ledger                                      done clear
  B)
   journal done clear
  C)
   Balance sheet                            done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer56)
  Purchase of office furniture on credit is recorded in
  A)
   purchase book                           done clear
  B)
   general book done clear
  C)
   cash book                                 done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer57)
  All loses and expenses are
  A)
   debited                                     done clear
  B)
   credited done clear
  C)
   Both  and                                 done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer58)
  Which item is shown on the debit side of a trial balance?      
  A)
   Purchase returns                        done clear
  B)
   Rent outstanding done clear
  C)
   Prepaid expenses                       done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer59)
  A customer's cheque returned dishonoured is recorded in     
  A)
   Purchase returns                        done clear
  B)
   sales return book done clear
  C)
   Case book                                 done clear
  D)
   journal done clear
  View Solution play_arrow

• question_answer60)
  Returns inward from Rahim is entered in
  A)
   Sales return book                       done clear
  B)
   Purchase return book done clear
  C)
   Journal done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer61)
  Cash sales are recorded in
  A)
   Sales book                                done clear
  B)
   cash book done clear
  C)
   Journal book                             done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer62)
  Returned goods to Bajaj and Co. is recorded in
  A)
   Purchase return book done clear
  B)
   Journal done clear
  C)
   Sales return book done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer63)
  Sale on account is recorded in
  A)
   Cash book done clear
  B)
   Sale book done clear
  C)
   Journal done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer64)
  The basic principle i.e. "all expenses are debited and all incomes are credited" applies to
  A)
   Personal accounts                      done clear
  B)
   Nominal accounts done clear
  C)
   Real accounts                            done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer65)
  Personal accounts are related to
  A)
   The assets and liabilities done clear
  B)
   The expenses, losses and incomes done clear
  C)
   The customers and suppliers done clear
  D)
   The employees and managers done clear
  View Solution play_arrow

• question_answer66)
  M/S Hari and Sons accounts is related to
  A)
   the capital accounts done clear
  B)
   the personal accounts done clear
  C)
   the firm’s accounts done clear
  D)
   the real accounts done clear
  View Solution play_arrow

• question_answer67)
  Which of the following is the nominal account?
  A)
   Goodwill                                   done clear
  B)
   Trademark done clear
  C)
   Copyright                                  done clear
  D)
   Rent done clear
  View Solution play_arrow

• question_answer68)
  Machinery purchased on account is recorded in
  A)
   purchase book                           done clear
  B)
   cash book done clear
  C)
   journal                                      done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer69)

  Arrange the following is chronological order about the accounting transactions and events are recorded in the books.

  I. Ledger

  II. Trial Balance

  III. Journal

  IV. Subsidiary Books

  Codes
  A)
                                   III. IV, I, II                                done clear
  B)
   III, I, IV, II done clear
  C)
   IV, III, II, I                                done clear
  D)
   III, I, II, IV done clear
  View Solution play_arrow

• question_answer70)
  Match the following

  List I		List II
  A.	A person who owes something is called	1.	Ledger
  B.	Balance sheet is not a .account.	2.	Personal accounts
  C.	An obligation of business is.........	3.	Debtor
  D.	The rule “Debit the receiver and credit the given” is for..........	4.	Liability

  Codes
  A)
   A\[\to \]4, B\[\to \]3, C\[\to \]1, D\[\to \]2 done clear
  B)
   A\[\to \]3, B\[\to \]4, C\[\to \]1, D\[\to \]2 done clear
  C)
   A\[\to \]3, B\[\to \]1, C\[\to \]4, D\[\to \]2 done clear
  D)
   A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3 done clear
  View Solution play_arrow