Chapter 6: Subsidiary Books – I March 18, 2024 Maven Leave a Comment Welcome to the Chapter 6: Subsidiary Books – I Quiz! This quiz is based on the book back questions. Name Email 1. Sales returns book is used to record: Returns of goods by the customer for which cash is paid immediately Returns of goods by the customer for which cash is not paid immediately Returns of assets by the customer for which cash is not paid immediately Returns of assets by the customer for which cash is paid immediately None 2. Purchases of fixed assets on credit basis is recorded in: Purchases book Sales book Purchases returns book Journal proper None 3. Which of the following statements is not true? Cash discount is recorded in the books of accounts Assets purchased on credit are recorded in journal proper Trade discount is recorded in the books of accounts 3 days grace are added while determining the due date of the bill None 4. Sales book is used to record: All sales of goods All credit sales of assets All credit sales of goods All sales of assets and goods None 5. Purchase book is used to record: All purchase of goods All credit purchase of assets All credit purchase of goods All purchase of assets None 6. Purchase returns book is used to record: Returns of goods to the supplier for which cash is not received immediately Returns of assets to the supplier for which cash is not received immediately Returns of goods to the supplier for which cash is received immediately None of the above None 7. Closing entries are recorded in: Cash book Ledger Journal proper Purchases book None 8. The total of the sales book is posted periodically to the credit of: Sales account Cash account Purchases account Journal proper None 9. The source document or voucher used for recording entries in sales book is: Debit note Credit note Invoice Cash receipt None 10. A periodic total of the purchases book is posted to the: Debit side of the purchases account Debit side of the sales account Credit side of the purchases account Credit side of the sales account None Time's up Related Posts:Chapter 7: Subsidiary Books – IIChapter 3: Books of Prime EntryChapter 1: Introduction to Micro EconomicsChapter 2. Consumption Analysis
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