Recording of Transactions-I MCQ
Please refer to Chapter 2 Recording of Transactions-I MCQ Class 11 Accountancy with answers below. These multiple-choice questions have been prepared based on the latest NCERT book for Class 11 Accountancy. Students should refer to MCQ Questions for Class 11 Accountancy with Answers to score more marks in Grade 11 Accountancy exams. Students should read the chapter Recording of Transactions I and then attempt the following objective questions.
Recording of Transactions-I MCQ
Q51. Debit notes issued are used to prepare :
(A) Purchases Return Book
(B) Sales Return Book
(C) Purchases Book
(D) Sales Book
Answer :- A
Q52. Sold goods for cash of the list price of Rs.8,000 at 10% trade discount and 3% cash discount. Posting will be made in Discount A/c :
(a) Rs.216 on Debit side
(b) Rs.216 on Credit side
(c) Rs.240 on Debit side
(d) Rs.240 on Credit side
Answer :- A
Q53. …………….. is not a subsidiary book
(A) Purchase Return Book
(B) Purchase Book
(C) Ledger
(D) Sales Book
Answer :- C
Q54. The ledger folio column of journal is used to:
(a) Record the date on which amount posted to a ledger account.
(b) Record the number of ledger account to which information is posted.
(c) Record the number of amounts posted to the ledger account.
(d) Record the page number of the ledger account.
Answer :- D
Q55. What type of Ledger Accounts are not carried forward to next year?
(a) Personal Accounts
(b) Real Accounts
(c) Nominal Accounts
(d) All of the above
Answer :- C
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Q56. Which of the following is known as “Principal Book of Accounting”?
(a) Ledger
(b) Journal
(c) Trial balance
(d) Balance sheet
Answer :- A
Q57. Akhil, who owed Rs. 10,000 became insolvent. Rs. 0.75 in a rupee was received from his estate. Amount received and credited to Akhil’s Account will be
(a) Rs. 7,500.
(b) Rs. 2,500.
(c) Rs. 10,000.
(d) Rs. 5,000.
Answer :- A
Q58. The cash – book meant for recording petty expenses is called–
(a) Simple cash – book
(b) Petty cash – book
(c) Triple column
(d) None of these.
Answer :- B
Q59. When goods are sold on credit the seller prepares
(a) Cash Memo.
(b) Invoice.
(c) Accounting Voucher.
(d) None of these.
Answer :- B
Q60.Total of Purchase Return Column in the Purchases Return Book is posted to :
(A) Purchases Return A/c — Debit
(B) Purchases Return A/c — Credit
(C) Purchases A/c — Debit
(D) Purchases A/c — Credit
Answer :- B
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