PPSC FPSC KPPSC Commerce Solved MCQs Practice Test 18

1- Those transactions for which there is no separate book, for recording are recorded in:

A). Journal proper✔️

B). Bills receivable book

C). Bills payable book

D). Cash book

2- Subsidiary books are called books of:

A). Original entry✔️

B). Secondary entry

C). Temporary entry

D). Basic entry

3- Practically, the Cash book is a substitute for cash account in the:

A). Journal

B). Ledger✔️

C). Trial Balance

D). Petty cash book

4- When cash is received from a debtor or customer, generally a receipt or cash memo is  issued to the debtor which is called:

A). Receipt voucher✔️

B). Payment voucher

C). Cash voucher

D). Cash receipt

5- When money is paid to a creditor or supplier a receipt is obtained from him which is called:

A). Receipt voucher

B). Payment voucher✔️

C). Cash voucher

D). Petty cash voucher

6- A document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:

A). Receipt voucher

B). Payment voucher

C). Cash voucher✔️

D). Cash memo

7- Single column cash book is used for recording:

A). Cash transactions only✔️

B). Cash and bank transactions

C). Cash, book and discount transactions

D). None of the above

8- The double column cash book makes the record of:

A). Cash transactions only

B). Cash and bank transactions✔️

C). Cash, bank and discount transactions

D). None of the above

9- The triple column cash book makes the record of:

A). Cash transactions only

B). Cash and bank transactions

C). Cash, bank and discount transactions✔️

D). None of the above

10- Discount deducted from the catalogue or list price is called:

A). Trade discount✔️

B). Cash discount

C). Catalogue discount

D). Credit discount

11- If a person pays his debit before the due date of Payment the recipient may grant him an allowance for doing so, this allowance is known as:

A). Trade discount

B). Cash discount✔️

C). Catalogue discount

D). Credit discount

12- If an amount is entered on the debit Side of an account and the exact amount is again entered on the credit side of the same account, it is called a:

A). Contingent entry

B). Contra entry✔️

C). Compounds entry

D). Double entry

13- The balance on the debit side of the bank column in cash book indicates:

A).The total amount withdrawn from ban

B). The total amount deposited from Bank

C). Cash at bank✔️

D). Cash in hand

14- The balance of the column is always:

A). Debit balance✔️

B). Credit balance

C). Both A & B

D). None of the above

15-The cash book in book- keeping records:

A). All receipts and payments in cash✔️

B). All cash and credit sale of goods

C). All credit and cash purchase of goods

D). Only cash payments

16- Cash discount is provided on:

A). Prompt payment✔️

B). Sale

C). Purchase

D). List price

17- Cash account is a:

A). Personal Account

B). Real Account✔️

C). Nominal Account

D). None of the above

18- The discount account is a:

A). Personal Account

B). Real Account

C). Nominal Account✔️

D). Asset Account

19-A contra entry is one which does not require posting to the:

A). Journal

B). Ledger✔️

C).Cash book

D). None of the above

20- A contra entry appears on both sides of:

A). Journal

B). Cash book✔️

C). Trial Balance

D). Sales book

21- Cash account will Show:

A). Debit or credit balance

B). Credit balance

C). Debit balance✔️

D). None of the above

22-  Cash book is:

A). Subsidiary journal

B). Subsidiary journal and ledger account✔️

C). Ledger account

D). None of the above

23- A customer’s cheque returned dishonoured is recorded:

A). Returns inwards books

B). Cash book✔️

C). Ledger

D). Sales book

24- Cash sales are recorded in:

A). Sales book

B). Cash book✔️

C). Debtor’s book

D). None of the above

25- Bank columns of the cash book represent bank account in the:

A). Journal

B). Ledger✔️

C). Trial Balance

D). Pass book

Useful Links:-

Lecturer Commerce Online Tests

One Paper MCQs for PPSC FPSC KKPSC BPSC SPSC AJKPSC NTS

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