Subsidiary Books : I - Important Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50

    Part A

    10 x 1 = 10
  1. Purchases book is used to record______

    (a)

    all purchases of goods

    (b)

    all credit purchases of assets

    (c)

    all credit purchases of goods

    (d)

    all purchases of assets

  2. A periodic total of the purchases book is posted to the _______

    (a)

    debit side of the purchases account

    (b)

    debit side of the sales account

    (c)

    credit side of the purchases account

    (d)

    credit side of the sales account

  3. Sales book is used to record_____

    (a)

    all sales of goods

    (b)

    all credit sales of assets

    (c)

    all credit sales of goods

    (d)

    all sales of assets and goods

  4. The total of the sales book is posted periodically to the credit of ____  

    (a)

    Sales account

    (b)

    Cash account

    (c)

    Purchases account

    (d)

    Journal proper

  5. The source document or voucher used for recording entries in sales book is ____

    (a)

    Debit note

    (b)

    Credit note

    (c)

    Invoice

    (d)

    Cash receipt

  6. The sub-division of work gives the advantage of specialisation leading to _____

    (a)

    business transactions

    (b)

    efficiency

    (c)

    decision making

    (d)

    none of these

  7. ______ is one of the most important books, in which credit purchases of goods are recorded.

    (a)

    Purchase book

    (b)

    Sales book

    (c)

    Purchases returns book

    (d)

    None of these

  8. Purchases book does not keep record of purchases of _____

    (a)

    assets

    (b)

    liabilities

    (c)

    goods

    (d)

    none of these

  9. ______ is the statement prepared by the seller of goods.

    (a)

    Voucher

    (b)

    Receipt

    (c)

    Invoice

    (d)

    Ledger Folio

  10. Entries in the purchases day book are made from invoices which are popularly known as _____

    (a)

    Invoice

    (b)

    Bills

    (c)

    Journals

    (d)

    Ledger

  11. Part B

    6 x 2 = 12
  12. What is debit note? 

  13. What is credit note?

  14. What is journal proper ?

  15. What is an invoice?

  16. What could be the reason for Joseph's feeling that dealing in cash is risk free?

  17. What type of discount is offered by Joseph?

  18. Part C

    6 x 3 = 18
  19. Give the format of purchases book.

  20. What are the advantages of subsidiary books?

  21. Write short notes on :
    (a) Endorsement of a bill and
    (b) Discounting of a bill

  22. What are the difference between Cash Discount and Trade Discount?

  23. What are the features of a bill of exchange?

  24. Write a note on (i) Bills Receivable Book (ii) Bills Payable Book.

  25. Part D

    2 x 5 = 10
  26. Enter the following transactions in the Purchases book of MIs. Subhashree Electric Co., which deals in electric goods

    2017 April 5 Purchased from Karthik Electric Co., on credit
    10 Electric iron box @ RS 2,500 each
    5 electric stoves @ Rs 2,000 each
     
     
    April 19 Purchased on credit from Khaitan Electric Co.,
      3 electric heaters @ Rs6,000 each
    April 25 Purchased from Polar Electric Co., on credit
      10 Fans @ Rs2,000 each
    April 29 Purchased from M & Co. for cash
      10 electric stoves @ Rs 3,000 each
  27. Enter the following credit transactions in the purchases book of Manoharan, a Provisions Merchant.

    2017 May 2 Bought from Vasu 100 bags of rice @ Rs 800 per bag
    May 8 Bought from Cheyyar Sugar Mills Ltd., 20 bags of sugar @ Rs 2,600 Per bag
    May 10 Bought from Ram Flour Mill, Coimbatore, 10 bags of wheat flour @ Rs 750 per bag
    May 15 Bought from Nilgiri Tea Co., Nilgiris, 15 cases of tea @ Rs900 per case
    May 25 Bought from Sairam Coffee Works Ltd., 100 kgs of Coffee @ Rs190 per kg
    May 29 Bought from X & Co. furniture worth Rs 2,000

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