Top 25 MCQ-Special Journal - Accounting Share

Practice the Top 25 MCQ-Special Journal to see how well you know the material.

It will assist you in quickly grasping the special journal in accounting and performing well in competitive exams such as a job interview, a school or college accounting exam, and so on.

Total MCQ:	25
Time:	10 Minutes
Pass Mark:	60 Percent

So, let’s get started.

START QUIZ

#1. Which journal is appropriate for recording cash sales?

Sales journal

Cash receipts journal

Cash payments journal

General journal

#2. Which of these is recorded in the sales journal?

Cash sales

Sales on account

All sales

Purchase on account

#3. Which of the following is included in the purchase journal?

All goods purchases

Assets purchases on account

Goods purchases on account

All purchases

#4. Which of the following statements is correct?

The cash receipts journal includes a sales discount column.

The purchase journal keeps track of all goods purchased.

The purchase journal is used to record purchase returns.

The cash receipts journal is used to track account purchases.

#5. "Goods sold to Mr. Paul on account of $4,000". What is the most appropriate book for this transaction?

Sales journal

General journal

Cash book

Purchase journal

#6. Which of these is recorded in the purchase journal?

Sales on account

Purchases on account

Purchases on cash

All purchases

#7. The goods, which had been sold on credit, were returned. This transaction is recorded in—

Sales journal

General journal

Sales return journal

Cash payments journal

#8. When are purchase journal accounts posted in the subsidiary ledger?

After one year

After one month

After one week

After one day

#9. 'Old furniture sold for $3,000 on credit.' Which journal is appropriate for this transaction?

Sales journal

General journal

Cash receipts journal

Purchase journal

#10. A customer sends a note to the seller to return goods purchased on an account called—

Debit note

Debit voucher

Credit note

Credit voucher

#11. Which one is needed for recoding cash purchases?

Purchase journal

Cash receipts journal

General journal

Cash payments journal

#12. When are the purchase journal accounts posted to the general ledger?

At the end of a month

At the end of a week

At the end of a year

At the end of a day

#13. When is it necessary to prepare a debit note?

At the time of sales return

At the time of sales on account

At the time of purchase return

At the time of purchase on account

#14. Which one is recorded in the general journal in the presence of a special journal?

Assets purchased on account

Goods purchased on account

Goods sold on cash

Assets purchased on cash

#15. A car is purchased on credit for business purposes. It's recorded in—

Purchase journal

Cash book

General journal

Purchase return journal

#16. What is the discount deducted from the price at the time of sale called?

Cash discount

Trade discount

Received discount

Paid discount

#17. The source document for the purchase return journal is—-

Debit note

Credit note

Debit voucher

Credit voucher

#18. When does the credit note need to be prepared?

At the time of sales on account

At the time of purchase on account

At the time of purchase return

At the time of sales return

#19. What is the purchase journal's source document?

Debit note

Credit note

Invoice

Voucher

#20. Two subsidiary ledgers are—-

Creditors and cash payments

Debtors and cash receipts

Debtors and creditors

Sales and purchase

#21. Which journal records the purchase of equipment on the account?

Cash payments journal

purchase journal

Cash receipts journal

General journal

#22. Which transactions need to be recorded in a special journal?

Bill receivable

Bill payable

Goods purchased on account

Assets purchased on account

#23. Which of the following is the sales return journal's source document?

Credit note

Debit note

Credit voucher

Debit voucher

#24. Which journal records returned goods that were sold on credit?

Sales journal

Sales return journal

General journal

Cash receipts journal

#25. Which statement is correct in the presence of a special journal?

The cash receipts journal records all cash receipts except cash sales.

The purchase journal keeps track of all purchases.

It is not necessary to keep a general journal.

The cash payments journal keeps track of all cash payments.

Finish

Results

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You can also check:

Top 25 MCQ-

Introduction to Accounting

#1. Which journal is appropriate for recording cash sales?

#2. Which of these is recorded in the sales journal?

#3. Which of the following is included in the purchase journal?

#4. Which of the following statements is correct?

#5. "Goods sold to Mr. Paul on account of $4,000". What is the most appropriate book for this transaction?

#6. Which of these is recorded in the purchase journal?

#7. The goods, which had been sold on credit, were returned. This transaction is recorded in—

#8. When are purchase journal accounts posted in the subsidiary ledger?

#9. 'Old furniture sold for $3,000 on credit.' Which journal is appropriate for this transaction?

#10. A customer sends a note to the seller to return goods purchased on an account called—

#11. Which one is needed for recoding cash purchases?

#12. When are the purchase journal accounts posted to the general ledger?

#13. When is it necessary to prepare a debit note?

#14. Which one is recorded in the general journal in the presence of a special journal?

#15. A car is purchased on credit for business purposes. It's recorded in—

#16. What is the discount deducted from the price at the time of sale called?

#17. The source document for the purchase return journal is—-

#18. When does the credit note need to be prepared?

#19. What is the purchase journal's source document?

#20. Two subsidiary ledgers are—-

#21. Which journal records the purchase of equipment on the account?

#22. Which transactions need to be recorded in a special journal?

#23. Which of the following is the sales return journal's source document?

#24. Which journal records returned goods that were sold on credit?

#25. Which statement is correct in the presence of a special journal?

Results

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