Sail E0 Webinar

MCQs

Total Questions : 842 | Page 7 of 85 pages
Question 61. The process of recording transactions in different journals is called
  1.    Posting
  2.    Entry making
  3.    Adjusting
  4.    Journalising
 Discuss Question
Answer: Option D. -> Journalising
Question 62. The other name of Journal is
  1.    Ledger
  2.    T account
  3.    Day Book
  4.    Cash Book
 Discuss Question
Answer: Option C. -> Day Book
Question 63. Discount allowed is a kind of deduction from
  1.    Account Payable
  2.    Account Receivable
  3.    Cash account
  4.    Discount account
 Discuss Question
Answer: Option B. -> Account Receivable
Question 64. The Journal entry in which two or more account is debited or credited is referred to as
  1.    Journal entry
  2.    Multi entry
  3.    Additional entry
  4.    Compound entry
 Discuss Question
Answer: Option D. -> Compound entry
Question 65. Every business transaction affects at least ____ accounts
  1.    One
  2.    Two
  3.    Three
  4.    Infinite
 Discuss Question
Answer: Option B. -> Two
Question 66. Goods returned by customer should be debited to which of the following accounts?
  1.    Sales income account
  2.    Sales account
  3.    Return inward account
  4.    Expenses account
 Discuss Question
Answer: Option C. -> Return inward account
Question 67. Discount allowed is
  1.    Expense of business
  2.    Income of business
  3.    Loss of business
  4.    Abnormal loss of business
 Discuss Question
Answer: Option A. -> Expense of business
Question 68. Which of the following will be debited if a business purchases goods on credit?
  1.    Cash
  2.    Debtor
  3.    Creditor
  4.    Purchases
 Discuss Question
Answer: Option D. -> Purchases
Question 69. Journals are also referred to as
  1.    Book of entries
  2.    Book of original entries
  3.    T account
  4.    Book of economic events
 Discuss Question
Answer: Option B. -> Book of original entries
Question 70. Which of the following accounts will be debited if the business's owner withdraws cash from business for personal use?
  1.    Drawings
  2.    Cash
  3.    Business
  4.    Stock
 Discuss Question
Answer: Option A. -> Drawings

Latest Videos
Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)
Direction Sense Test Part 1 Reasoning (Hindi)
Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE
Cube & Cuboid Part 1 Reasoning (Hindi)
Data Interpretation (DI) Basic Concept Reasoning (Hindi)
Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)
Sail E0 free webinar Webinars
Real Numbers Part 7 Class 10 Maths
Real Numbers Part 1 Class 10 Maths
Polynomials Part 1 Class 10 Maths

Latest Test Papers

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI
Tabulation - Test Paper 2 Data Interpretation Reasoning & DI
Test Paper 1 Direction Sense Test Reasoning & DI
ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0
GFM Combined 1 Free Revision Test SAIL JO E-0