Accounting Multiple Choice Question – 21 August 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

The total of the purchase invoices recorded in the Purchases Journal is posted to…?

Select ONE answer:

  1. the credit side of the purchases account in the general ledger.
  2. the debit side of the purchases daybook.
  3. the credit side of the purchases daybook.
  4. the debit side of the purchases account in the general ledger.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. The total of the purchase invoices recorded in the purchases journal is posted to the debit side of the purchases account in the general ledger.
  2. ‘Posting’ means transferring totals from the books of original entry to the double-entry accounting records. The purchases daybook is not part of these records – in fact, it is the same as the purchases journal.
  3. As for answer B above.
  4. Correct

 

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