We have compiled the NCERT MCQ Questions for Class 11 Accountancy Chapter 4 Recording of Transactions 2 with Answers Pdf free download covering the entire syllabus. Practice MCQ Questions for Class 11 Accountancy with Answers on a daily basis and score well in exams. Refer to the Recording of Transactions 2 Class 11 MCQs Questions with Answers here along with a detailed explanation.
Recording of Transactions 2 Class 11 MCQs Questions with Answers
Choose the correct option.
Question 1.
When a firm maintains a cash book, it need not maintain
(a) Journal Proper
(b) Purchases (journal) book
(c) Sales (journal) book
(d) Bank and cash account in the ledger
Answer
Answer: (d) Bank and cash account in the ledger
Question 2.
Double column cash book records
(a) All transactions
(b) Cash and bank transactions
(c) Only cash transactions
(d) Only credit transactions
Answer
Answer: (b) Cash and bank transactions
Question 3.
Goods purchased on cash are recorded in the
(a) Purchases (journal) book
(b) Sales (journal) book
(c) Cash book
(d) Purchases return (journal) book
Answer
Answer: (c) Cash book
Question 4.
Cash book does not record transaction of:
(a) Cash nature
(b) Credit nature
(c) Cash and credit nature
(d) None of these
Answer
Answer: (b) Credit nature
Question 5.
Total of these transactions is posted in purchase account:
(a) Purchase of furniture
(b) Cash and credit purchase
(c) Purchases return
(d) Purchase of stationery
Answer
Answer: (b) Cash and credit purchase
Question 6.
The periodic total of sales return journal is posted to :
(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account
Answer
Answer: (d) Sales return account
Question 7.
Credit balance of bank account in cash book shows :
(a) Overdraft
(b) Cash deposited in our bank
(c) Cash withdrawn from bank
(d) None of these
Answer
Answer: (a) Overdraft
Question 8.
The periodic total of purchases return journal is posted to :
(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture account
Answer
Answer: (c) Purchase returns account
Question 9.
Balancing of account means
(a) Total of debit side
(b) Total of credit side
(c) Difference in total of debit & credit
(d) None of these
Answer
Answer: (c) Difference in total of debit & credit
Question 10.
The first book of original entry is-
(a) Journal
(b) Ledger
(c) Trial Balance
(d)None of these.
Answer
Answer: (b) Ledger
Question 11.
‘Drawings’ falls under which account-
(a) Personal account
(b) Real account
(c) Nominal account
(d) None of these.
Answer
Answer: (a) Personal account
Question 12.
Income tax is treated as-
(a) Business Expense
(b) Direct Expense
(c) Personal Expense
(d) Indirect Expense.
Answer
Answer: (d) Indirect Expense.
Question 13.
A cheque on which two parallel lines are drawn in the left top corner is called –
(a) Bearer cheque
(b) Traveller’s cheque
(c) Account payee cheque
(d) None of these.
Answer
Answer: (c) Account payee cheque
Question 14.
Cash purchase of goods is recorded in-
(a) Purchase book
(b) Sales book
(c) Cash – book
(d) None of these.
Answer
Answer: (c) Cash – book
Question 15.
Credit purchase of furniture shall be recorded in-
(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.
Answer
Answer: (b) Journal book
Question 16.
Who prepares a debit note-
(a) Seller
(b) Purchaser
(c) Cashier
(d) None of these.
Answer
Answer: (b) Purchaser
Question 17.
Return of goods by a customer is recorded in-
(a) Purchase book
(b) Sales book
(c) Sales return book
(d) Purchase return book.
Answer
Answer: (c) Sales return book
Fill in the Correct Words
Question 1.
Cash book is a …………….. journal.
Answer
Answer: Subsidiary
Question 2.
In Journal proper, only ………………. discount is recorded.
Answer
Answer: Cash
Question 3.
Return of goods purchased on credit to the suppliers will be entered in ………………. Journal.
Answer
Answer: Purchases Return
Question 4.
Assets sold on credit are entered in ……………….
Answer
Answer: Journal Proper
Question 5.
Double column cash book records transaction relating to ……………. and ……………….
Answer
Answer: Cash, Bank
Question 6.
Total of the debit side of cash book is ……………….. than the credit side.
Answer
Answer: More
Question 7.
Cash book does not record the ………………. transactions.
Answer
Answer: Credit
Question 8.
In double column cash book ……………….. transactions are also recorded.
Answer
Answer: Bank
Question 9.
Credit balance shown by a bank column in cash book is …………………
Answer
Answer: Overdraft
Question 10.
The amount paid to the petty cashier at the beginning of a period is known as ………………. amount.
Answer
Answer: Imprest
Question 11.
In purchase book goods purchased on ………………. are recorded.
Answer
Answer: Credit
Question 12.
The amount which cannot be recovered from debtors is called ……………..
Answer
Answer: Bad debts
Question 13.
The account in which amount can be deposited or withdrawn daily and which allows no interest on deposit is called ……………..
Answer
Answer: Current account
Question 14.
The discount allowed on cash transactions is called ……………..
Answer
Answer: Cash discount
Question 15.
Sales account always shows …………….. balance.
Answer
Answer: Credit
Question 16.
The purchase of packing material along with goods purchased is recorded in ……………
Answer
Answer: Purchase book
Question 17.
Such transactions for which no separate subsidiary books are maintained are recorded in ……………..
Answer
Answer: Journal book
Question 18.
Sub – division of Journal is called …………….
Answer
Answer: Subsidiary book
Question 19.
Credit note is sent to …………….
Answer
Answer: Purchaser
State whether the following statements are True or False
Question 1.
Journal is a book of secondary entry.
Answer
Answer: False
Question 2.
One debit account and more than one credit account in a entry is called compound entry.
Answer
Answer: True
Question 3.
Assets sold, on credit are entered in sales journal.
Answer
Answer: False
Question 4.
Cash and credit purchases are entered in purchase journal.
Answer
Answer: False
Question 5.
Cash sales are entered in sales journal.
Answer
Answer: False
Question 6.
Cash book records transactions relating to receipts and payments.
Answer
Answer: True
Question 7.
Ledger is a subsidiary book.
Answer
Answer: True
Question 8.
Petty cash book is a book having record of big payments.
Answer
Answer: False
Question 9.
Cash received is entered on the debit side of cash book.
Answer
Answer: True
Question 10.
Transaction recorded both on debit and credit side of cash book is known as contra entry.
Answer
Answer: True
Question 11.
Balancing of account means total of debit and credit side.
Answer
Answer: False
Question 12.
Credit purchase of machine is entered in purchase journal.
Answer
Answer: False
Question 13.
Weekly information is sought from the subsidiary books.
Answer
Answer: False
Question 14.
Drawings account is a personal account.
Answer
Answer: True
Question 15.
Purchase account is always debited.
Answer
Answer: False
Question 16.
Order for sending goods is not a business transaction.
Answer
Answer: True
Question 17.
Cash A/c is a real A/c.
Answer
Answer: True
Question 18.
Purchase book is a principle book.
Answer
Answer: False
Question 19.
Preparation of sales account is not essential when sales book is maintained.
Answer
Answer: False
Question 20.
Goods received on consignment is recorded in purchase book.
Answer
Answer: False
Question 21.
Cash sale of asset is recorded in main journal book.
Answer
Answer: False
Match the following:
Question 1.
| Column A | Column B |
| 1. Asset | (a) Bank |
| 2. Personal account | (b) Furniture |
| 3. income tax | (c) Real account |
| 4. Asset installation expense | (d) Personal account. |
Answer
Answer:
| Column A | Column B |
| 1. Asset | (b) Furniture |
| 2. Personal account | (a) Bank |
| 3. income tax | (d) Personal account. |
| 4. Asset installation expense | (c) Real account |
Question 2.
| Column A | Column B |
| 1. Debit note | (a) Purchase book |
| 2. Credit note | (b) Principle book/journal book |
| 3. Credit sale of asset | (c) Purchaser |
| 4. Cash purchase of asset | (d) Seller |
| 5. Credit purchase of goods | (e) Cash-book. |
Answer
Answer:
| Column A | Column B |
| 1. Debit note | (c) Purchaser |
| 2. Credit note | (d) Seller |
| 3. Credit sale of asset | (b) Principle book/journal book |
| 4. Cash purchase of asset | (e) Cash-book. |
| 5. Credit purchase of goods | (a) Purchase book |
Answer in one word/sentence:
Question 1.
Under how many heads, the accounts have been categorised for the purpose of recording transactions in Journal?
Answer
Answer: Three
Question 2.
When a single journal entry is passed for two transactions of same nature on same date, such an entry is called?
Answer
Answer: Compound entry
Question 3.
Give an example of intangible asset?
Answer
Answer: Goodwill
Question 4.
The discount which is offered to increase sale and attract customers is called?
Answer
Answer: Trade discount
Question 5.
Mention the transaction which is not recorded in purchase book?
Answer
Answer: Cash transaction
Question 6.
Credit sale of goods is recorded in which book?
Answer
Answer: Sales book
Question 7.
Interest on capital is recorded in which subsidiary book?
Answer
Answer: Journal book
Question 8.
Which discount is recorded in purchase and sales book?
Answer
Answer: Trade discount
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