Double Entry Book

10.34 is an Asset. Do you

Keeping
agree?
( a )Whi

bank balance
while to the bank
Q. 5. Bank overdraft is
a lLiability
overdoft is the
9mount payable by the firmn
balance is the
amount.since
oWned
the (c)

Yes, Bank Bank ( ) Con

Ans, he balnnce held.
than as8et.
drawn is more thus, it is an
lvingdeposited in the bank, (a)
that is
Book an asAet or income?
ls the balance of Petty Cash the firm.
(c)
6.
Balance of Pettv Cash Book is an asset for Wh
Ans, (i)
(a)
(Multiple Choice Questions (MCQs) ) (c)
Sclect the correct alternative: Si
i)
() Cash Book records all (b) cash and credit trangactions (a
(a) cash receipts and payments.
(d) cash payments.
(c) cash receipts.
Param, the entry will be recorded in the
(7) 1fRam has sold goods for cash to
(b) Sales Book.
(a) Cash Book.
(c) Journal Proper. (d) Petty Cash Book.
Objed
() Ravi has purchased goods for cash from Girish for ? 10,000. lt will be recorded in
(a) Cash Book. (6) Journal Book. 1. SE
(c) both Cash Book and Journal Book. (d) Petty Cash Book.
(iv) Mohit paid 9,800 in settlement of his account of ? 10,000. Discount Allowed
recorded in wil be
(a) Cash Book. (6) Journal Book.
(c) Both Cash Book and Journal.
(d) Petty Cash Book.
(v) Deposit of cash in bank is recorded in
(a) Debit of Bank Column and Credit of Cash
Column.
(6) Debit of Cash Column and Credit of Bank
(c) Debit of Cash Column and also Credit of
Column.
Cash Column.
(d) Debit of Bank Column and also
Credit Bank Column.
of
(vi) Withdrawal of Cash from Bank is recorded in 2.
(a) Debit of Bank Column and
Credit of Cash Column.
(6) Debit of Cash Column and
Credit of Bank Column.
(c) Debit of Cash
Column and also Credit of Cash
(d) Debit of Bank Column.
Column and also Credit of Bank
(vii) Balance in the Petty Cash Column.
Book is
(a) an expense.
(c) an asset. (b) a profit.
(viii) When a firmn (d) income.
maintains
(a) Purchases Book. Two-column Cash Book, it does not maintain
(c) Sales Book. (6) Journal Proper.
(d) Bank and Cash Accounts in the
Ledger
 Purpose Bookss|-Cash Book
1
of the following is not
(i) Which recorded in the Cash Book?
(a) Credit Sales
(b) Cash Receipts
(c) Cash Payments
(d) Opening Cash Balance
atra entries on the debt side of the Cash
Book are posted to
(a) Debit of Bank Account in the Ledger. (6) Debit of Cash Account in the Ledger.
i) Credit of Cash Account in the Ledger. (d) Not posted in the Ledger.
(k) Which of the following is both a book of Journal and Ledger?
(a) Cash Book (6) General Journal
(c) Purchases Journal (d) SalesJournal
(xi) Simple Petty Cash Book is like a
(a) Cash Book. (6) Statement.
(c) Journal. (d) None of these.
[Ans.: () (a): (i) (a); (iii) (a); (iv) (b); (v) (c): (vi) (6);
(vii) (c); (viüi) (d); (ix) (a); () (d); (xi) (a); (xii) (b).]

Objective Type Questions

statements are True or False:
I. State whether the follouping Cash Book.
and payments are recorded in
Transa receipts contra entry.
 Multipie Choice Questions (MCQs)
Select the correct alternative:
() In the Purchases Book, transactions recorded are
(a) cash purchases of goods dealt in, (6) credit purchases of goods dealt in.
(c) all purchases of goods dealt in. (d) purchase of anything.
(iü) The Sales Return Book records
(a) the return of goods purchased. (b) the return of goods sold on credit.
(c) the return of goods sold for cash. ay the return of anything sold.
(iii) The Sales Book
(a) is a part of the Journal. (6) is a part of the Ledger.
(c) is a part of the Balance Sheet. (d) is apart of the Trial Balance.
(iv) The total of the Sales Book is posted to
(a) debit of the Sales Account. (6) credit of the Sales Account.
(c) debit of the Customers' Account. (d) credit of Customers' Accounts.
 PurposeBooksI|-Other Books 11.31
Special
The periodic total of Sales Return Journal is posted to the
() (a) Sales Account, (b) Goods Account.
(c) Sales Return Account. (d) Anyof these.
() Goods purchased for cash are recorded in the
(a) Purchases Book. (b) Cash Book.
c) Purehases Return Book. (d) Cash Book and Purchases Book.
( ) Total of these transactions is posted to Purchases Account
(a) Credit purchase of furniture. (6) Purchases Return.
(c) Credit purchase of goods. (d) Purchase of Stationery.
(i) Sale of business asset on credit is recorded in
(a) Sales Book. (6) Journal Proper.
(c) Special Journal. (d) Cash Book.
(ix) Opening entry is recorded
(a) in the beginning of the accounting year.
(6) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year.
(x) Closing entries are passed
(a) in the beginning of the accounting year.
(6) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year.
(xi) Which of the following transactions is entered into the Journal Proper?
(a) Cash Payment to an employee for expenses.
(6) Cash purchase of goods for resale.
(c) Correction of an error.
(d) Credit purchase of goods for resale.
(xii) Xreceived a cheque ofT 10,000 from Yin settlement of dues of 10.500. The cheque
was dishonoured. The reversal of discount allowed byX will be recorded in
(a) Cash Book. (b) Journal Proper.
(c) Ledger directly. (d) None of these.
[Ans.: () (b); (i) (6); (iii) (a); (iv) (6); (v) (c): (vi) (b);
(vi) (c); (viii) (6); (ix) (a); (x) (6); (xi) (c): (xii) (b).]
|Objective Type Questions
 Double Entry Booki

Ke pings
12.40

QUESTIONS

Multiple Choice Questions (MCQs)

Sclect the correct olternative:
() On intra-state (.e. withinthe state) purchase of goods, which of the following 6ST,
(b) SGST
(a) CGST
(d) SGST and IGST
(c) CGST and SGST
() On inter-state (ie., outside the state) purchase of goods, which of the following (;ST
(a) IGST (b) IGST and CGST
(d) SGST
(c) CGST
following accounts are dehit.n
(i) On intra-state purchase of goods, which of the
(a) Input IGST Account
Account
(6) Input CGST Account and Input SGST
Account
(c) Input IGST Account and Input CGST
Account
(d) Input IGST Account and Input SGST
account is credited?
(iv) On inter-state sale of goods, which of the following
(a) Output CGST Alc (6) Output IGST A/c
(c) Input IGST A/c (d) Output SGST Alc
(v) Input IGST is first set-off against
(a) Output IGST. (6) Output CGST.
(c) Output SGST. (d) Any of these.
(vi) Input CGST is first set-off against
(a) Output IGST. (b) Output CGST.
(c) Output SGST. (d) Any of these.
(vi) Input SGST is first set-off against
(a) Output IGST. (b) Output CGST.
(c) Output SGST. (d) Any of these.
it is set-off agans
(vii) If Input IGST, after setting-off against Output IGST, has balance,
(a) Output IGST. (6) Output CGST.
(c) Output SGST. (a) Any of these.
Output CGST, has balauit
(ix) If Input IGST, after setting-off against Output IGST and
it is set-off against
(a) Output IGST. (6) Output CGST.
(c) Output SGST. (d) Any of these.
(vi) (c): (vii) (0); (8)
[Ans.: (i) (c); (ii) (a); (ü)(6); (iv) (6); (v) (a): (vi) (b):
Objective Type Questions)