Do you need some help in preparing for your upcoming Accounting exam? We’ve compiled a list of MCQ Questions for Class 11 Accountancy with Answers to get you started with the subject, Recording of Transactions 2 Class 11 MCQs Questions with Answers. You can download NCERT MCQ Questions for Class 11 Accountancy Chapter 4 Recording of Transactions 2 with Answers Pdf free download and learn how smart students prepare well ahead. So, ace up your preparation with MCQ on Recording of Transactions 2 Class 11 Objective Questions.
Recording of Transactions 2 Class 11 MCQs Questions with Answers
Question 1.
When a firm maintains a cash book, it need not maintain
(a) Journal Proper
(b) Purchases (journal) book
(c) Sales (journal) book
(d) Bank and cash account in the ledger
Answer
Answer: (d) Bank and cash account in the ledger
Question 2.
Double column cash book records
(a) All transactions
(b) Cash and bank transactions
(c) Only cash transactions
(d) Only credit transactions
Answer
Answer: (b) Cash and bank transactions
Question 3.
Goods purchased on cash are recorded in the
(a) Purchases (journal) book
(b) Sales (journal) book
(c) Cash book
(d) Purchases return (journal) book
Answer
Answer: (c) Cash book
Question 4.
Cash book does not record transaction of:
(a) Cash nature
(b) Credit nature
(c) Cash and credit nature
(d) None of these
Answer
Answer: (b) Credit nature
Question 5.
Total of these transactions is posted in purchase account:
(a) Purchase of furniture
(b) Cash and credit purchase
(c) Purchases return
(d) Purchase of stationery
Answer
Answer: (b) Cash and credit purchase
Question 6.
The periodic total of sales return journal is posted to :
(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account
Answer
Answer: (d) Sales return account
Question 7.
Credit balance of bank account in cash book shows :
(a) Overdraft
(b) Cash deposited in our bank
(c) Cash withdrawn from bank
(d) None of these
Answer
Answer: (a) Overdraft
Question 8.
The periodic total of purchases return journal is posted to :
(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture account
Answer
Answer: (c) Purchase returns account
Question 9.
Balancing of account means
(a) Total of debit side
(b) Total of credit side
(c) Difference in total of debit & credit
(d) None of these
Answer
Answer: (c) Difference in total of debit & credit
Fill in the Correct Words
Question 1.
Cash book is a …………….. journal.
Answer
Answer: Subsidiary
Question 2.
In Journal proper, only ………………. discount is recorded.
Answer
Answer: Cash
Question 3.
Return of goods purchased on credit to the suppliers will be entered in ………………. Journal.
Answer
Answer: Purchases Return
Question 4.
Assets sold on credit are entered in ……………….
Answer
Answer: Journal Proper
Question 5.
Double column cash book records transaction relating to ……………. and ……………….
Answer
Answer: Cash, Bank
Question 6.
Total of the debit side of cash book is ……………….. than the credit side.
Answer
Answer: More
Question 7.
Cash book does not record the ………………. transactions.
Answer
Answer: Credit
Question 8.
In double column cash book ……………….. transactions are also recorded.
Answer
Answer: Bank
Question 9.
Credit balance shown by a bank column in cash book is …………………
Answer
Answer: Overdraft
Question 10.
The amount paid to the petty cashier at the beginning of a period is known as ………………. amount.
Answer
Answer: Imprest
Question 11.
In purchase book goods purchased on ………………. are recorded.
Answer
Answer: Credit
State whether the following statements are True or False
Question 1.
Journal is a book of secondary entry.
Answer
Answer: False
Question 2.
One debit account and more than one credit account in a entry is called compound entry.
Answer
Answer: True
Question 3.
Assets sold, on credit are entered in sales journal.
Answer
Answer: False
Question 4.
Cash and credit purchases are entered in purchase journal.
Answer
Answer: False
Question 5.
Cash sales are entered in sales journal.
Answer
Answer: False
Question 6.
Cash book records transactions relating to receipts and payments.
Answer
Answer: True
Question 7.
Ledger is a subsidiary book.
Answer
Answer: True
Question 8.
Petty cash book is a book having record of big payments.
Answer
Answer: False
Question 9.
Cash received is entered on the debit side of cash book.
Answer
Answer: True
Question 10.
Transaction recorded both on debit and credit side of cash book is known as contra entry.
Answer
Answer: True
Question 11.
Balancing of account means total of debit and credit side.
Answer
Answer: False
Question 12.
Credit purchase of machine is entered in purchase journal.
Answer
Answer: False
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