books of original entry

Question 1

Which of the following is NOT a book of original entry in accounting?

Accepted Answer

3

Question 2

The sales journal is used to record cash sales.

Accepted Answer

x

Question 3

In which book of original entry are credit purchases recorded?

Accepted Answer

Purchases Journal

Question 4

Petty cash book is mainly used to record:

Accepted Answer

2

Question 5

The journal, also known as the general journal, is used for:

Accepted Answer

2

Question 6

True or False: The cash book serves both as a book of original entry and a ledger.

Accepted Answer

o

Question 7

Which one of these transactions would you enter in the returns inwards journal?

Accepted Answer

1

Question 8

The purchases returns journal is used for recording goods a business has returned to its suppliers.

Accepted Answer

o

Question 9

Which book of original entry would you use for recording a $500 loan received from the bank?

Accepted Answer

2

Question 10

What is the main purpose of a book of original entry?

Accepted Answer

Recording transactions

Question 11

Which book of original entry is best described as a book that records every cash and bank transaction?

Accepted Answer

Cash Book

Question 12

Goods bought on credit should be recorded in the sales journal.

Accepted Answer

x

Question 13

When a customer returns goods, which book records this transaction?

Accepted Answer

Returns Inwards Journal

Question 14

The sales journal records only credit sales of goods.

Accepted Answer

o

Question 15

Which statement is correct about the general journal?

Accepted Answer

2

Question 16

The cash book can show both receipts and payments.

Accepted Answer

o

Question 17

If a business sells furniture on credit, where should this be recorded?

Accepted Answer

2

Question 18

The purchases journal is used for cash purchases only.

Accepted Answer

x

Question 19

Which book of original entry records goods returned by the business to suppliers?

Accepted Answer

2

Question 20

Transactions that do not fit into any specific book of original entry are usually recorded in the _____?

Accepted Answer

General Journal