Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?
(A) Cash payments journal
(B) Cash receipts journal
(C) Purchases return journal
(D) General journal
Sales on credit is recorded in which of the following journal?
(A) Purchase journal
(B) Sales journal
(C) Purchases return journal
(D) Sales return journal
Which of the following specialized journals records “goods returned by customers”?
(A) Purchase journal
(B) Sales journal
(C) Purchases return journal
(D) Sales return journal
Which of the following account with normal balance is shown at the credit side of a trial balance?
(A) Cash account
(B) Bank account
(C) Equipment account
(D) Accrued expenses account
Which of the following account with normal balance is shown at the debit side of a trial balance?
(A) Rent income account
(B) Creditors account
(C) Unearned income account
(D) Cash account
Credit memo or credit note No. is entered in which of the following journal?
(A) General journal
(B) Cash journal
(C) Purchase journal
(D) Sales return day book
BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?
(A) Cash receipts journal
(B) Cash payments journal
(C) Sales journal
(D) Purchase journal
Which of the following is known as an evidence that a transaction took place?
(A) Cash receipts journal
(B) General journal
(C) Source document
(D) Cash book
Specialized journals are more adequate for which TYPE OF BUSINESSES?
(A) Small businesses
(B) Big businesses
(C) Sole proprietorship
(D) Partnership
Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?
(A) Purchase journal
(B) Sales return journal
(C) General journal
(D) Cash receipt journal