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
Q71. Goods costing Rs.30,000 supplied to Mohan at a profit of 25% of sales price less Trade discount @5% will be credited to Sales A/c with :
(a) Rs.35,625
(b) Rs.38,000
(c) Rs.37,500
(d) Rs.34,200
Answer :- B
Q72. Payment of Rs.6,000 as wages to workmen for installation of a machine should be debited to :
(a) Wages A/c
(b) Repairs A/c
(c) Machinery A/c
Answer :- C
Q73. Which Account is opened first in ledger book-
(a) Personal
(b) Real
(c) Non – real
(d) None of these.
Answer :- A
Q74. Rs.5,000 received from Mohan whose account was written off as bad in the previous year should be credited to :
(a) Mohan’s A/c
(b) Bad-Debts A/c
(c) Bad-Debts Recovered A/c
(d) None of these
Answer :- C
Q75. When goods are purchased against cash, the purchaser will get
(a) Cash Memo.
(b) Invoice.
(c) Accounting Voucher.
(d) None of these.
Answer :- A
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Q76. A separate column is made for ‘Credit Note No.’ in
(A) Purchases Book
(B) Sales Book
(C) Purchases Return Book
(D) Sales Return Book
Answer :- D
Q77. Total of Sales Return Column in the Sales Return Book is posted to :
(A) Sales A/c — Debit
(B) Sales A/c —Credit
(C) Sales Return A/c — Debit
(D) Sales Return A/c — Credit
Answer :- C
Q78. Lalit, who owed Rs. 20,000 became insolvent. 70 paise in a rupee was received from his estate. Bad Debts Account will be debited by
(a) Rs. 20,000.
(b) Rs. 10,000.
(c) Rs. 6,000.
(d) Rs. 14,000.
Answer :- C
Q79. Invoice is a source voucher for
(a) Cash purchases.
(b) Credit purchases.
(c) both (a) and (b).
(d) neither (a) nor (b).
Answer :- B
Q80. Invoice is a source voucher for seller of goods
(a) for cash sales.
(b) for credit purchases,
(c) for credit sales.
(d) for cash purchases.
Answer :- C
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