MCQs Class 11 Accountancy Recording Of Transactions II

Check the below NCERT MCQ Accountancy Class 11 Chapter 4 Recording Of Transactions II with Answers available with PDF free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest syllabus and examination pattern issued by CBSE, NCERT and KVS. Our teachers have provided below Recording Of Transactions II Class 11 Accountancy MCQs Questions with answers which will help students to revise and get more marks in exams

Accountancy Class 11 Chapter 4 Recording Of Transactions II MCQs Questions with Answers

Refer below for MCQs Accountancy Class 11 Chapter 4 Recording Of Transactions II with solutions. Solve questions and compare with the answers provided below

Question. Purchase book is used to record : 
(A) Purchases of goods
(B) Credit Purchases of goods
(C) Credit Purchases of asset
(D) All credit Purchases

Question. Debit notes issued are used to prepare : 
(A) Purchases Return Book
(B) Sales Return Book
(C) Purchases Book
(D) Sales Book

Question  How many accounts are effected in a transaction? 
(a) Only one
(b) Only Two
(c) At least two
(d) Two or Three

Question …………….. is not a subsidiary book 
(A) Purchase Return Book
(B) Purchase Book
(C) Ledger
(D) Sales Book

Question. Recording is made in purchases book : 
(A) After deducting trade discount
(B) After adding trade discount
(C) After deducting cash discount
(D) After adding cash discount

Question  When goods are lost by fire then Loss of Goods by Fire Account is debited with 
(a) Cost of goods sold.  
(b) Cost of goods sold plus Gross Profit.
(c) Cost of goods sold less Gross Profit.
(d) Cost of goods purchased.

Question. Debit Note is the source of writing : 
(A) A debit entry in an Account
(B) A sale to a person
(C) Sales Return Book
(D) Journal Proper

Question. A separate column is made for ‘Credit Note No.’ in 
(A) Purchases Book
(B) Sales Book
(C) Purchases Return Book
(D) Sales Return Book

Question  Ledger is a book in which 
(a) Real and Nominal Accounts are maintained.
(b) Real and Personal Accounts are maintained,
(c) Real, Personal and Nominal Accounts are maintained.
(d) Personal and Nominal Accounts are maintained.

Question.Total of Purchase Return Column in the Purchases Return Book is posted to : 
(A) Purchases Return A/c — Debit
(B) Purchases Return A/c — Credit
(C) Purchases A/c — Debit
(D) Purchases A/c — Credit

Question. Total of Sales Return Column in the Sales Return Book is posted to :
(A) Sales A/c — Debit
(B) Sales A/c —Credit
(C) Sales Return A/c — Debit
(D) Sales Return A/c — Credit

Question  The process of transferring the transactions from the Journal to the ledger is called 
(a) Journalising.
(b) Posting.
(c) Balancing.
(d) Costing.

Question. In case lesser amount is recorded in sales invoice by mistake, then a is sent 
(A) Debit Note
(B) Credit Note
(C) Cash Note
(D) Debit or Credit Note

Question. A trader entered into following transactions. As a result, total of Purchase Column in the Purchase Book will be : 
(i) Goods purchased from Gaurav Rs.8,000
(ii) Goods purchased from Sudhir for Cash Rs. 10,000
(iii) Goods purchased from Kamal on credit Rs.25,000
(iv) Machinery purchased from Dinesh on credit Rs.40,000
(A) Rs.83,000
(B) Rs.73,000
(C) Rs.33,000
(D) Rs.25,000

Question. Goods taken away by the proprietor from business for his personal use will be recorded in : 
(A) Purchases Book
(B) Sales Book
(C) Purchases Return Book
(D) Journal Proper

Question. Recording is made in Journal Proper of: 
(A) All transactions
(B) Those transactions which are not recorded in any subsidiary book.  
(C) All cash transactions
(D) All credit Transactions

Question Posting of transaction means 
(a) entering transactions in Journal.  
(b) entering transactions in Ledger.
(a) entering transactions in Trial Balance.  
(d) entering transactions in Financial Statements.  

Question. Recording is made in Journal Proper of: 
(A) Opening Entries
(B) Closing Entries
(C) Adjustment Entries
(D) All of the above

Question. The balance of sales column in the sales day book is Rs.30,000. Rs.5,000 were recovered from debtors. Then balance of sales column will be transferred by which amount? 
(A) Rs.25,000
(B) Rs.30,000
(C) Rs.20,000
(D) Rs.35,000

Question  Ledger Account is prepared from 
(a) Vouchers.
(b) Trial Balance.
(c) Journal.
(d) Financial Statements.

Question. A note sent by buyer on return of goods is 
(A) Credit Note
(B) Return Note
(C) Debit Note
(D) None of these

Question. Goods sold for Cash Rs.25,000 plus 12% IGST. Sales A/c will be credited by : 
(A) Rs.22,000
(B) Rs.25,000
(C) Rs.28,000
(D) None of these

Question. Purchase of furniture on credit should be recorded in 
(A) Journal
(B) Purchase Book
(C) Cash Book
(D) Journal Proper

Question. A …….. is sent to a supplier when we return goods. 
(A) Debit Note
(B) Credit Note
(C) Proforma Invoice
(D) None of these

QuestionIn the Purchases Book the record is in respect of 
(a) cash purchases of goods dealt in.
(b) credit purchases of goods dealt in.
(c) all purchases of goods dealt in.
(d) purchase of anything.

Question  What type of Ledger Accounts are not carried forward to next year? 
(a) Personal Accounts
(b) Real Accounts
(c) Nominal Accounts
(d) All of the above

Question The Sales Return Book records 
(a) the return of goods purchased.
(b) the return of goods sold on credit,
(c) the return of goods sold for cash.
(d) the return of anything sold.

Question The Sales Book 
(a) is a part of the Journal.
(b) is a part of the Ledger.
(c) is a part of the Balance Sheet.
(d) is a part of the Trial Balance.

Question  What type of following accounts will have debit balance only? 
(a) Personal Accounts
(b) Real Accounts
(c) Nominal Accounts
(d) All of the above

Question The total of the Sales Book is posted to 
(a) debit of the Sales Account.
(b) credit of the Sales Account.
(c) debit of the Customers’ Account.
(d) credit of Customers’ Accounts.

Question The periodic total of Sales Return Journal is posted to the 
(a) Sales Account.
(b) Goods Account.
(c) Sales Return Account.
(d) Any of these.

Question Goods purchased for cash are recorded in the 
(a) Purchases Book.
(b) Cash Book.
(c) Purchases Return Book.
(d) Cash Book and Purchases Book.

Question Total of these transactions is posted to Purchases Account 
(a) Credit purchase of furniture.
(b) Purchases Return.
(c) Credit purchase of goods.
(d) Purchase of Stationery.

Question Sale of business asset on credit is recorded in 
(a) Sales Book.
(b) Journal Proper.
(c) Special Journal.
(d) Cash Book.

Question Opening entry is recorded 
(a) in the beginning of the accounting year.
(b) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year.

Question  Trial Balance shows 
(a) both debit and credit balances,
(b) only debit balance.
(c) only credit balance.
(d) either of debit or credit balance.

Question Closing entries are passed   
(a) in the beginning of the accounting year.
(b) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year,

Question Which of the following transactions is entered into the Journal Proper?   
(a) Cash Payment to an employee for expenses.
(b) Cash purchase of goods for resale.
(c) Correction of an error.
(d) Credit purchase of goods for resale.

Question X received a cheque of Rs. 10,000 from Y in settlement of dues of Rs. 10,500. The cheque was dishonoured. The reversal of discount allowed by X will be recorded in 
(a) Cash Book.
(b) Journal Proper.
(c) Ledger directly.
(d) None of the above.

Question  Which of the following expense is not a revenue expense?   
(a) Salary
(b) Electricity
(c) Water
(d) Repair of second-hand machinery purchased

Fill In The Blanks

Question. Received Rs.10,000 for petty cash book. Balance after all the expenses is Rs.3928. __________ amount will be reimbursed according to imprest system .

Question. Cash book doesn’t record _______________ transactions.

Question. Bank paid life insurance premium as per the standing instruction of the owner, _____________ account is debited.

Question. When a firm avails a bank service it has to pay charges for service called ______________.

Question. Goods purchased from Sohan for Rs. 5,000 on credit is recorded in ____________ book. 

Question. Sold goods to M/S Mukti, Delhi. 10 kgs tea packets @Rs. 600 per kg less trade discount @10%. 5% IGST is to be charged. Freight anf packing charge is to be charged separately @ Rs.1,500. Amount to be posted in Sales Journal Rs._________________.

Question. Cash book is both __________ and _______________ book.

Question. Purchased machinery on credit from Mr Karan for Rs.50,000 for use in business is recorded in _______________________.

Question. R.K. Company purchased 60 units of goods @100 each less trade discount 10% allowed, cash discount allowed is 5%. This transaction is to be recorded in ____________ __________ book.

Question. If bank charges on dishonoured cheque, then bank charges will be _________ into the cheque amount.

Question. Received from S.K. limited a cheque for Rs.10,800 against dues of Rs,12,000 in full settlement of his account. ______________ amount will be entered in receipt side of cash book.

Question. Cash book is also known as book of ____________.

Question. Cheque received from Amit for rupees 20,000 was dishonoured; the bank column will be _____________________.

Question. The balance of petty cash book is __________ for the firm.

Question. Received a two months post-dated cheque of rupees 30,000 from Rajesh and deposited in the bank on same day; discounted from Bank paying discounting charges of rupees 750 the cash book is debited by rupees ______________.

Question. Hema traders purchased from Videocon India Limited 5 machines @ rupees 50,000 at less trade discount @ 10% + GST @ 12% freight charges rupees 1,000 the purchase book is debited by amount rupees ______________.

Question. An entry passed in journal to record the closing balances of the previous year to the current year is called – – – – entry.

Question. Mukesh sold 100 tables to Suresh at the rate of Rs.5000 each less 25% trade discount plus IGST at the rate of 12% and 2% cash discount if Suresh paid the amount in 14 days of sale. Suresh paid the amount within 14 days. Sales A/c will be credited with Rs. – – – –. 

Question. The process of recording the transactions in journal is called – – – –.

Question. The book in which accounts are maintained is called – – – –.

Question. Bought machinery for Rs. 28,000 and paid freight Rs. 1,000, carriage Rs. 200 and installation charges Rs. 800. In journal entry Machinery A/ will be debited with Rs. – – – –. 

Question. An entry in which more than one account is debited or credited is called – – – – entry.

Question. Received a cheque for Rs.98,000 from Gopal in full settlement of his account of Rs.1,00,000. Gopal’s A/c will be credited with Rs. – – – –.

Question. Vipro Ltd. Purchased 50 computers from HCL and is allowed a discount of Rs.10,000 for purchase thereof. Discount allowed by HCL is – – – – discount.

True / False :

Question. Rima sold goods on credit to Rohit: 50 shuttles @Rs.10 each. In this case the customer account will be debited in sales book for Rs.2000.     

Question. M/S Tushar traders deposited with the bank the entire balance after retaining Rs.2, 000 cash in hand. The debit side and credit side of cash column of cash book are Rs.18, 170 and Rs.9,170 The amount deposited in bank is Rs.7,000.     

Question. Cheque amounting to Rs.12,000 deposited into bank is now dishonoured. The bank charged Rs.250 as dishonour charges. The amount to be recorded on the payment side of cash book Rs.12,000.     

Question. Cash deposited in bank Rs.50,000 will be recorded in cash book in the bank column on payment side and in cash column on the receipt side.     

Question. Loss by fire amounted to Rs.80,000 but the insurance company paid Rs.60,000. So the amount Rs.60,000 will be recorded in the bank column of cash book.   

Question. Siya paid Rs.900 plus CGST and SGST @6%each.Rs.1008 will be recorded on the payment side of cash book.     

Question. Books of original entry are called Subsidiary books.   

Question. Mr. A sold 35 items to Mr. B@ Rs.100 each less 20% trade discount. Mr. B returned 15 of the above items. As a result of this a credit note should be sent to Mr. B of Rs.1,200.   

Question. Sudha received cheque of Rs.10, 100 from Mudra in full settlement of Rs.11, 000. The cheque is not deposited n bank for 24 hours. Entry for this will be recorded in cash book.    

Question. Following are the balances of ledger accounts of M/S Aman Traders on 1st April.
Cash in Hand Rs. 5,000
Cash at Bank Rs.10,000
Bill Receivable Rs. 7,000
Bills Payable Rs. 3,000
The entry of the above balances will be recorded in Journal proper as opening entry and balance will be treated as capital reserve.

Question. M/S Sudarshan maintains petty cash book. The imprest amount is Rs.5,000. If the cash balance in hand is Rs.1,300, Rs.2,700 will be reimbursed to make for imprest amount.    

Question. The bank debits the firm’s account on the account of bank charges.   

Question. The goods returned to Mr.X, 2 table fans @ Rs.1000 each less trade discount 15 will be shown in sale return book.   

Question. The proprietor Aman started business with cash Rs.1, 00,000, Stock Rs.70,000, building Rs.10,00,000. So Rs.11, 70,000 will be recorded as capital in credit side of cash book.   

Question . M/S Parveen traders purchased 20 kg sugar@ of Rs.100 each from us. Trade discount is applicable @5% and IGST @ 12%.The entry will be recorded in the sales book of our books of accounts as –

Sales Column	1,900
Output IGST	228

Question. Journalising is the process in which we record the transactions in a ledger.

Question. While passing an opening entry, all assets are debited individually & liabilities are individually credited.

Question. Prepaid Rent is a Representative Personal A/c.

Question. Borrowed a loan of Rs.5,00,000 from Bank @6% interest. Three months interest is outstanding. Outstanding interest A/c will be credited by Rs. 7,500.

Question. Both cash discount & trade discount are shown in the journal entry.

Question. Brief description of a transaction in a journal entry is known as narration.

Question. Mr. X of Delhi sold goods costing Rs. 50,000 to Mr. Y of Punjab. GST is levied @12%.Output CGST A/c will be credited with Rs. 6,500.

Question. Ledger is a permanent record of all transactions.

Match The Following

Question . Match with the suitable subsidiary books

I Receipts and payments of cash	a. Purchases book
II Return of credit sales made by customers	b. Sales book
	c. Sales returns book
	d. Cash book

Question. Match with the suitable document:

I Document evidencing that a credit transaction has been made.	a. Debit note
II Document supporting a transaction	b. Voucher Number
	c. Credit note

Question. Match with proper subsidiary book

I It doesn’t record non cash transaction	a. Journal proper
II Sales Book is a part of	b. Cash Book
	c. Journal

Question. Match with suitable option:

I Drawing more out of bank then the available balance	a. Contra Entry
II withdrawal of cash from bank	b. Opening Entry
	c. Overdraft

Question. Match with relevant option :

I Expenses involving small amount	a. Journal proper
II Those transaction which are not recorded in any subsidiary book	b. Cash Book
	c. Petty Cash Book

Question. Match the subsidiary books in which following are recorded:

I Purchase of furniture on credit for office use	a. Purchases Book
II Sale of goods on credit	b. Journal proper
III Goods returned by debtors	c. Sales return Book
	d. Sales Book

Question. Match with the books of original entries where these transaction are to be recorded

I Goods purchased from Mr. X on credit	a) Sales returned books
II Defective goods sold to veena an credit returned by her	b) Journal proper
III Purchased furniture for personal use	c) Purchase book
	d) Sales book

Question. Match the following with correct option

I Monthly total of purchase book is	a) Posted to ‘Cr’ of purchases A/C
II Total of sales book is posted to	b) Posted to ‘Dr’ of purchases A/C
	c) Posted to ‘Cr’ of sales A/C
	d) Posted to ‘Dr’ of sales A/C

Question. Match the following with correct option

I Intra state sale of goods GST charged is	a) CGST,SGST,IGST
II Interstate sale of goods GST charged is	b) CGST and SGST
	c) IGST and CGST
	d) IGST

Question. Match the following with correct option

I Entry made in beginning of the year	a) Adjustment entry
II Settlement of amount paid or received in advance	b) Opening entry
	c) Transfer entry

Question. Match the following with correct option

I Transfer entries	a) Entry made at the end of the year to close the relevant A/C
II Closing entries	b) Amount transferred from one A/C to another
	c) Entry made in the beginning of the year

Question. Match the following with correct option

I The balance in petty cash book is	a) Liability
II Credit balance in their bank column of cash book	b) Profit
	c) Asset

Question. Match with the suitable option

I Cash withdrawn for personal use	a) Salary A/C
II Paid salary to Mr. Ram	b) Ram A/C
	c) Drawings A/C
	d) Cash A/C

Question. Match with the suitable option

I Received a post dated cheque from Deepak	a) Cash book
II Paid salary to Mr. Ram	b) Journal proper
	c) Sales book

Question. Match with the suitable option

I Deposited cash into bank	a) Only bank column is credited
II Withdrawal of cash for office use	b) Cash column ‘Cr’ , bank column ‘Dr’
	c) Cash column ‘Dr’ , bank column ‘Cr’
	d) Only cash column is credited

Question. Match with the suitable option

I Transaction not recorded in cash book	a) Cash withdrawn from bank for personal use
II Not a contra entry	b) Sold goods worth Rs 5000
	c) Trade discount

Question. Match with the suitable option

I Dr or Cr balance	a) Only cash column of cash book
II Only Dr balance	b) Neither cash nor bank column
	c) Only bank column of cash book

Question. Match items in List I with terms in List II using the codes given below the lists

List –I	List –II
I If employee is paid salary @ rupees 1000 per month and during the year only 11 month salary amounting to Rs11000 has been paid to him ,then amount credited to outstanding salary account would be	a) Rs.1000
II If rent paid during the year is Rs13000 on 1july 2019 and rent per month is Rs 1000 . the amount of rent paid in advance is	b) Rs 2000
	c) Rs 3000
	d) Rs 4000

Question. Match items in List I with terms in List II using the codes given below the lists

List –I	List –II
I X sold goods to Y for cash for rupees 1,00,000 at 10% trade discount and 2% cash discount. The total amount debited to discount allowed account is	a) 1800
II The total amount debited to cash account is	b) 88,200
	c) 11,800
	d) 90,000

Question. Match items in List I with terms in List II using the codes given below the lists

List –I	List –II
I Salaries and wages paid during the year is Rs 1,00,000 .Rate of cgst and sgst is 6% each .input cgst and sgst would be debited with	a) Rs 6000
II Rent paid rs 1,00,000 .rate of cgst and sgst is 6 %each .input cgst and sgst would be debited with in total	b) Rs 12000
	c) None of the above

Question. Match items in List I with terms in List II using the codes given below the lists

List –I	List –II
I Amount of Rs 10000 paid by X on behalf of y. The account debited is	a) Cash A/c
II When goods are returned to Y which account is debited	b) X’s A/c
	c) Y ‘s A/c