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Published on: 26/08/2019
Recording of Transaction - I
Download CBSE Class 11th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 11th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
What is meant by a voucher?
2.
What is the role of source documents?
3.
Define source documents.
4.
Name the two types of vouchers. (Main Classification)
5.
When a person wants to deposit cheques and cash in his bank account he customarily fills out a slip to show the number of his account, the date, and the details of the deposit. What is this slip called?
6.
The journal entry to record payment of monthly bill will include:
Debit monthly bill and Credit capital.
Debit capital and Credit capital
Debit monthly bill and Credit cash
Debit monthly bill and Credit creditors
7.
If a transaction is properly analysed and recorded
Only two accounts will be used to record the transaction.
One account will be used to record transaction
One account balance will increase and another will decrease
Total amount debited will equals total amount credited
8.
When a entry is made in journal
Assets are listed first.
Accounts to be debited listed first.
Accounts to be credited listed first.
Accounts may be listed in any order
9.
The journal entry to record the sale of services on credit should include:
Debit to debtors and credit to capital.
Debit to cash and Credit to debtors.
Debit to fees income and Credit to debtors.
Debit to debtors and Credit to fees income.
10.
Double entry accounting requires that:
All transactions that create debits to asset accounts must create credits to liability or capital accounts;
A transaction that requires a debit to a liability account require a credit to an asset account;
Every transaction must be recorded with equal debits equal total credits.
11.
Issued cheque for Rs.70,000 to payoff on of the creditors. The account to be debited is _________
12.
Purchased new machine for Rs.1,170,000 and issued cheque for the same. The account to be debited is ___________
13.
Purchased office stationary for Rs.18,000.The account to be credited is _______
14.
Collected Rs.35,000 from debtors. The account to be credited is ________
15.
Issued a cheque for Rs.8,000 to pay rent. The account to be debited is _______
1.
( )
A voucher means a written evidence of a transaction that has taken place.
2.
( )
Source documents facilitate the identification of business transactions to be recorded in the books of accounts.
3.
( )
Source documents may be defined as the documents which provide evidence of the transaction.
4.
( )
(i) Debit vouchers
(ii) Credit vouchers
5.
( )
Deposit slip or Pat - in - slip
6.
(c)
Debit monthly bill and Credit cash
7.
(d)
Total amount debited will equals total amount credited
8.
(b)
Accounts to be debited listed first.
9.
(d)
Debit to debtors and Credit to fees income.
10.
(c)
Every transaction must be recorded with equal debits equal total credits.
11.
( )
Creditors
12.
( )
Machine
13.
( )
Cash
14.
( )
Debtors
15.
( )
Rent
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