Accounts - Principles of Accounts Questions
Question 1281:
When goods are sold for cash the credit entry goes to the
- A Trader's account
- B Cash book
- C Purchases account
- D Sales account
- E Customers account
Question 1282:
The sales account is written up from
- A Cash sales to customers only
- B Credit sales to customers only
- C Credit sales less cash sales
- D Cash sales less cash discounts
- E Both credit and cash sales
Question 1283:
The petty cash book can have
- A A debit balance only
- B A credit balance only
- C Both debit and credit balances
- D A debit or nil balance
- E A nill balance only
Question 1284:
Which of the following may have been recorded in the cash book and fail to appear in the Bank statement?
- A Bank charges and commission
- B Cheques issued, presented and cashed
- C Bank lodgements
- D Payments made by the bank on a tanding order
- E Opening bank overdraft
Question 1285:
Which of the following accounts belongs to the personal ledger?
- A Purchases account
- B Capital account
- C Machinery account
- D Depreciation account
- E Rent and rentals