Quiz of accounting process, learn the basics of accounting process. Take a quick multiple choice questions mcqs test about general ledger. The general journal is the main bookkeeping journal of a business. Entries in the cash book are then posted into the general. Download cash book excel template 5 types of cash book templates with predefined formulas to help you record routine cash transactions of a company regularly. These mcqs can help you to prepare for your exams, interviews and different tests. Stay organized with accounting and record journals staples. He has worked as an accountant and consultant for more than 25 years in all types of. Information from the general journal is posted into the main ledger known as the general ledger. The balance of cash book and cash of a cash box must be equal. A journalizing, final accounts, posting to the ledger and trial balance b journalizing, posting to the ledger, trial balance and final accounts cposting to the ledger, trial balance, final accounts and journalizing dposting to the ledger, journalizing, final accounts and trial balance answers 1. Tally mcqs quiz online test questions and answers pdf. Posted directly to personal and impersonal ledgers.
During september the following transactions take place. If you find difficulty in answering these questions, read general journal chapter thoroughly from explanation section of the website. A cash book is a type of subsidiary book where cash or bank receipts and cash or bank payments made during a period are recorded in a chronological order. Each t account contains the exact amount owing to a supplier a sales ledger b purchases ledger c general ledger d cash book 2. At speedy publishing, we envision our company and publishing arm as being a premier publisher of quickreference materials, useful reference books, fiction books in all subgenres and creative nonfiction to both entertain and assist readers worldwide in reading a fun and exciting books and also accomplishing their educational and professional goals. To see how these specialized journals can save time, examine table c, which shows an example of a sales journal. Nov 21, 2015 quiz of accounting process, learn the basics of accounting process. This document is highly rated by b com students and has been viewed 9888 times. Accounting mcqs accounting mcqs for preparation of various test announced by fpsc, kppsc, nts, ppsc.
Single column, double column, three column and petty cash book. You can click any of above given button and a documentbook relating to that topic will be opened. Journals 18751932 contains details of all transactions carried out on credit. When the transactions are entered in the journal, then they are posted into individual accounts known as ledger. Receipts are recorded on the debit the left hand side, and payments are recorded on the credit right hand side. Just click the start quiz button and start general ledger mcqs quiz. Cah book mcqs 1 is a set of multiplechoice question related to all four types of cash book i. Accounting mcq questions and answers with easy and logical explanations.
Recording of transactions journal entries, ledger and trial balance source document. Last modified november 12th, 2019 by michael brown. Accounting mcq is important for exams like ca, cs, cma, cpa, cfa, upsc, net, banking and other accounts department exam. General ledger multiple choice questions mcqs quiz. A journal entry in which two or more account is debited or credited is referred as a journal entry. Difference between journal and ledger with comparison chart. Mcqs complete solved multiple choice question with answer key. A document which provides evidence of the transactions is called the source document such as cash memo, invoice etc. We suggest you try to answer each question yourself before clicking.
Cash book questions and answers test your learning about cash book chapter by answering 6 short questions given below. Some accountants term cash book as a journal and some other term it as a ledger. Jul 26, 2018 the difference between journal and ledger can be drawn clearly on the following grounds. Accounts, journals, ledgers, and trial balance financial. We shall do the ledger posting from above cash book in standard format of ledger as under. We have covered introduction to double entry system, journal, ledger, trial. May 07, 2020 journal, ledger and trial balance accountancy and financial management b com notes edurev is made by best teachers of b com. Nov 24, 2018 take a quick multiple choice questions mcqs test about general journal. B cash book c purchases journal d sales journal 1 b which documents received by a business are used to write up the purchases returns journal. Cash book with cash and discount column is mostly referred as a simple cash book b two column cash book c three column cash book d petty cash book.
Nov 24, 2018 take a quick multiple choice questions mcqs test about general ledger. Chartered accountant michael brown is the founder and ceo of double entry bookkeeping. A ledger general ledger is the complete collection of all the accounts and transactions of a company. In above posting, date shows the date of transaction, lf is the page number of cash book from where the entry is. If you want to read that book online than the book will be available open for online reading. Nov 21, 2015 quiz on ledger, learn the basics of accounting process. General ledger multiple choice questions mcqs quiz with. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. An accounting journal entry is the method used to enter an accounting transaction into the accounting records of a business. The book is very important and valuable for all those who want want financial accounting mcqs with answers. Name the most authentic senior auditor guide by ch najib ahmed caravan book house part 1 english vocabulary, grammar usage part 2 accounting principles and procedures journal ledger cash book annual budget adjustments depreciation financial planning and cost accounting head of accounts, reappropriation of accounts audit guidelines settlement of audit objections scrutiny of record for audit. General journal multiple choice questions mcqs quiz with.
Senior auditor past papers mcqs notes and books pdf. The balance of cash book always means cash in hand. At times, there may be no documentary proof for certain items in. Financial accounting mcq ledger linkedin slideshare. Accounting for management explanations, exercises, problems and calculators.
A transaction is entered in a journal before it is entered in ledger accounts. Just click the start quiz button and start general journal mcqs quiz. Describing books of account cash books 18751936 contains details of all cash transactions. If you find difficulty in answering these questions, read general ledger chapter thoroughly from explanation section of the website. For example date account code account name description debit. Enter the transaction on the debit or credit side and it will automatically calculate the cash on hand for you. A cash book that is used to record the small payments of cash is generally referred as a simple cash book b two column cash book c three column cash book d petty cash book. The trial balance a is a listing of all the general ledger account balances at a particular date. The book is one of the best assets for the candidate or student of commerce and business. Quiz on ledger, learn the basics of accounting process.
Accounting mcq questions and solutions with explanations. Because each transaction is initially recorded in a journal rather than directly in the ledger, a journal is called a book of original entry. Read online urdu digests,novels,magazines,digests,safarnama,islamic books,education books,imran series,mazhar kaleem,book stores,best islamic urdu. This is simply writing out the amount, the account code, description and whether its a debit or credit entry. Notice that the sales journal has only one column to record the transaction amount. The difference between journal and ledger can be drawn clearly on the following grounds. General journal multiple choice questions mcqs quiz. A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals. A general ledger a cheque book a cash book a payingin slip 37 a debit balance of.
Journal, ledger and trial balance accountancy and financial. It is easy to set up a journal in a lined exercise book or computer spreadsheet. The accounting records are aggregated into the general ledger, or the journal entries may be recorded in a variety of subledgers, which are later rolled up into the general ledger. Noncash transactions of cash books are transferred to a relevant account in the ledger. Oct 09, 2016 a journal b cash account c ledger account d balance sheet q28 if debit balance is greater than credit balance then the account balance will be. Read online urdu digests,novels,magazines,digests,safarnama,islamic books,education books,imran series,mazhar kaleem, book stores,best islamic urdu. Financial accounting mcqs with answers pdf book zubiweb. Let us take a look at the process of posting such journal entries from the books of accounts in various ledgers. The journal is a book where all the financial transactions are recorded for the first time. Take a quick multiple choice questions mcqs test about general journal. Posting from journal and cash book during the preparation of accounts, an accountant is required to post various entries from various journals and cash books to the ledger accounts. Parti english 20 mcqs grammar usage, sentence structuring. We have covered introduction to double entry system, journal, ledger, trial balance, subsidiary books, cash book and petty cash book. We have covered introduction to double entry system, journal, ledger, trial balance, subsidiary books.
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