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The balance of Sales Day Book is Rs. 25,000. Rs. 5,000 were recovered from debtors. Then balance of Day Book will be transferred by which amount?
a) Rs. 25,000
b) Rs. 5,000
c) Rs. 20,000
d) Rs. 10,000
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Purchase of furniture on credit should be recorded in _________
a) Purchase Book
b) Sales Book
c) Cash Book
d) Journal
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A note sent by buyer on return of goods is: a) Debit Note b) Credit Note c) Income Note d) Ledger Note
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Total of Sales Book will be posted:
a) In Debit side of Sales Account
b) In Credit side of Purchases Account
c) In Credit side of Sales Account
d) In Debit side of Sales return account
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Trade discounts are:
a) Recorded in the books
b) Not recorded in the books
c) Not used for determining the net price
d) Used for specific purposes in accounting
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The source document or voucher used for recording entries in sales book is:
a) Invoice received
b) Invoice sent out
c) Credit notes sent out
d) Debit notes received
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Purchase of fixed assets on credit basis is recorded in:
a) Purchase Book
b) Cash Book
c) Journal Proper
d) Journal
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How do you change fiscal year in Asset Accounting?
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Purchase Book is used to record: a) All purchases of goods b) All sales of goods c) All credit purchases of goods d) All accounts maintained
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What are group assets?
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What are evaluation groups?
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The total of the Purchase Day Book is posted periodically to (a) Debit of purchases A/c (b) Credit of purchases A/c (c) Debit of sales A/c (d) Credit of sales A/c
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