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Test: Books of Prime Entry - Year 11 MCQ


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10 Questions MCQ Test - Test: Books of Prime Entry

Test: Books of Prime Entry for Year 11 2024 is part of Year 11 preparation. The Test: Books of Prime Entry questions and answers have been prepared according to the Year 11 exam syllabus.The Test: Books of Prime Entry MCQs are made for Year 11 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Books of Prime Entry below.
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Test: Books of Prime Entry - Question 1

Which book of prime entry is used to record credit sales transactions?

Detailed Solution for Test: Books of Prime Entry - Question 1

The Sales Journal is used specifically for recording credit sales transactions, excluding cash sales.

Test: Books of Prime Entry - Question 2

What is the purpose of the Purchases Returns Journal?

Detailed Solution for Test: Books of Prime Entry - Question 2

The Purchases Returns Journal is used to record returns of items purchased on credit from suppliers.

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Test: Books of Prime Entry - Question 3

In which book would you record a transaction involving the return of goods to a supplier?

Detailed Solution for Test: Books of Prime Entry - Question 3

The Purchases Returns Journal is used to record returns of goods to suppliers.

Test: Books of Prime Entry - Question 4

What type of transactions are recorded in the Cash Book?

Detailed Solution for Test: Books of Prime Entry - Question 4

The Cash Book records all cash and bank transactions, including receipts and payments.

Test: Books of Prime Entry - Question 5

Which book of prime entry is used for recording transactions that do not fit into any other specialized book?

Detailed Solution for Test: Books of Prime Entry - Question 5

The General Journal records transactions that do not belong to any other specific book of prime entry.

Test: Books of Prime Entry - Question 6

What is the main purpose of using books of prime entry in accounting?

Detailed Solution for Test: Books of Prime Entry - Question 6

Books of prime entry are used to record transactions promptly and accurately before they are posted to ledger accounts.

Test: Books of Prime Entry - Question 7

Which book of prime entry is used to record minor cash transactions?

Detailed Solution for Test: Books of Prime Entry - Question 7

The Petty Cash Book is used to record minor cash transactions within a business.

Test: Books of Prime Entry - Question 8

What information is recorded in the Sales Journal?

Detailed Solution for Test: Books of Prime Entry - Question 8

The Sales Journal records credit sales transactions made to customers.

Test: Books of Prime Entry - Question 9

When would you use the General Journal in accounting?

Detailed Solution for Test: Books of Prime Entry - Question 9

The General Journal is used to record various transactions including correcting errors in previous entries.

Test: Books of Prime Entry - Question 10

What distinguishes the Cash Book from other books of prime entry?

Detailed Solution for Test: Books of Prime Entry - Question 10

The Cash Book records all cash and bank transactions within a business.

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