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1. Accounting equation and more (Click to read)
Below are some of the most important questions on "Accounting Journal". All questions are most likely to be asked in.
SSC, SSC CGL, SSC CHSL, UPSC, IBPS, UPPSC, RRB, RRB NTPC, RRB Group D, JKSSB, JKPSC.
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Mcqs On Journal Entries
1) ---------------- Regarded As The
Book Of Original Entry
Answer
:- The General Journal
2) By what shareholder’s Equity
Will Not Be disturbed.
Answer
:- The Land Purchase Was Made From The Proceeds Of A Bank Loan.
3) Withdrawal of Cash for Business
From The Proprietor must be Put Into
Answer
:- The Cash Account
4) The Transactions are 1st Recorded
into.
Answer
:- The Book Of Original Entry
5) --------------------Concerning
Journal Entries Are Not Correct?
Answer
:- The Don’t Balance Provided By The Journal Entries
6) Return of Goods from Customers Will
Be Debited To
Answer
:- The Return Inward
7) The Journalist Transactions Are
Recorded In
Answer
:- The Chronological Order
8) Journal Alternatively Called
Answer
:- The Daybook
9) On receiving the bill entry made by Payee In His Books Of Accounts
Answer
:- Bills Receivable Account Dr. To
Drawee The Bill
10) Receipt & Payment Accounts
are Summaries Of
Answer
:- The Cash Book Without The Date Column.
11) The Rs. 100 Of The Rent Is
Debited To The Landlord’s Account; What Will Rectification Entry For The Above
Error?
Answer
:- Rent A/C Debit 1000 To The Personal Account Of Landlord A/C 1000
12) Destruction Of Stock = 25,000rs
By Fire which is Not Been Insured, will be
Answer :- Dr Profit
And Loss Ac 25,000 Cr Trading A/C 25,000
13) The Process Of Recording The Transactions In Journals Is Called
Answer
:- Journalising
14) The Minimum Number Of Accounts
Affected By Any Business Transaction?
Answer
:- Two
15) The Journal Entry Involving
More Than Two Accounts Being Debited Or Credited Is Called
Answer
:- Compound Entry
16) Journalising Is Performed How
Many Times A Year?
Answer
:- A Lot Of Times During The Accounting
Period
17) Which Account Get Debited Of Cash From The Business Withdrawn By The Owner For Personal Use?
Answer
:- Drawings Account
18) Opening Bal. Of Prepaid
Insurance = 20,000. One Fifth Expires Year, Adjustment Entry Will Credit Of:
Answer
:- Rs 4000 To Prepaid Insurance Account
19) Cash Book’s Debit Balance
Represent At The End Of The Year?
Answer
:- The In-Hand Cash At The End Of The
Given Period.