Home > Class 11 Accountancy > Quizzes > Recording Of Transactions (MCQs)
Recording Of Transactions (MCQs)
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 24% • Most missed: “A credit balance in Bank column of cash book indicates_______”
Recording Of Transactions (MCQs)
Time left 00:00
23 Questions

1. Name an asset which is also a liability?
2. It is system of paying advance in the beginning and reimbursing the amount spent from time to time to the petty cashier.
3. All the indirect expenses are closed to_____
4. Cash Book cannot have negative balance, i.e., payments cannot be______Cash in hand?
5. The bad debts written off as bad, if recovered subsequently, should be credited to______
6. A ledger is prepared from____
7. In Journal Proper, only_____discount is recorded.
8. A ledger is called a book of____
9. The balance in Petty Cash Book is______
10. It is system of paying advance in the beginning and reimbursing the amount spent from time to time to the petty cashier.
11. Cash Book cannot have negative balance, i.e., payments cannot be______Cash in hand?
12. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?
13. A credit balance in Bank column of cash book indicates_______
14. Name the transaction that is recorded in both sides of Cash book simultaneously.
15. A ledger is called a book of____
16. A compound Journal entry_____
17. Anil, the Petty Cashier of Ebony, has an imprest of Rs.5,000 out of which he pays for petty expenses. He submits the details of payments every 15 days which is reimbursed to him. He submitted the details for 15 days that ended on 15th April, 2012 amounting to Rs. 4,900. He has with him unpaid expense vouchers amounting to Rs.2,200. How much amount should be paid to him?
18. Which account will be debited in case wages are paid for installation of machinery?
19. The Sales Return Book always has______balance
20. The balance in Petty Cash Book is______
21. Name the transaction that is recorded in both sides of Cash book simultaneously.
22. Purchase of machinery on credit is recorded in_______
23. What are total number of subsidiary books available to record financial transactions?

⚡ Recently practiced quizzes in this topic
Live quiz activity
Depreciation Reserves and Provisions (MCQs) Theory Base Of Accounting (MCQs) Rectification Of Errors (MCQs) Principles Of Accounting (MCQs) Bills Of Exchange (MCQs)
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.