Journal Book Is Used To Mcq

The following basic accounting quiz are from accounting theory basics of accounting general accounting financial accounting and cost accounting.

Journal book is used to mcq. Numbers 4 and 8 in the diagram represents a prepare a cheque and extract a trial balance b extract a trial balance and prepare final reports. 17 comments on. So journal is called the book of original entry.

One of the detailed rules used to record business transaction is a objectivity b accruals c double entry book keeping d going concern 8. Dto records all the non cash transactions only. Most often these sales are made up of inventory sales or other merchandise sales.

Find answers to the accounting questions at the bottom of the page. Arecords all the ledgers. Just click the start quiz button and start general ledger mcqs quiz.

The diagram below refers to item 8. When a liability is reduced or decreased it is recorded on the. So journal is also called a day book.

Petty cash book a i and ii b i and iii c ii and iii d iii and iv 5. 10 15 minutes next back to. A transaction is recorded on the same day it takes place.

If you find difficulty in answering these questions read general ledger chapter thoroughly from explanation section of the website. Journal book is used to. Journal book is used to.