Month: August 2019

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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The Purchases Daybook is a record of data extracted from which of the following source documents?

Select ONE answer:

1. Invoices received from suppliers.
2. Invoices issued to customers.
3. Cheques issued.
4. Orders received from customers.

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 1

1. Correct
2. Incorrect – Invoices issued to customers are recorded in the sales journal.
3. Incorrect – Cheques issued are recorded in the cash book (or cheque payments book).
4. Incorrect – Customers’ orders are recorded in an order book but, as they do not represent accounting transactions, they are not entered in any book of original entry.

 

This work is licensed under a Creative Commons Attribution 4.0 International License.

The total of the Sales Journal is posted to…?

Select ONE answer:

1. the credit side of the sales account in the nominal (general) ledger.
2. the debit side of the sales account in the nominal (general) ledger.
3. the debit side of the sales daybook.
4. None of the above.

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 1

1. Correct – The total of the Sales Journal is the total of the credit sales for a particular period.
2. Incorrect – Sales are always recorded as a credit in the sales account.
3. Incorrect – The sales daybook is the same as the sales journal.
4. Incorrect

 

This work is licensed under a Creative Commons Attribution 4.0 International License.

The Sales Daybook is used to record…?

Select ONE answer:

1. money received from debtors.
2. the names, addresses, credit terms and other details regarding debtors.
3. invoices issued to customers in respect of. goods sold on credit.
4. None of the above.

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 3

1. Incorrect – Money received from debtors is initially recorded is the cash book (or cash receipts book).
2. Incorrect – The names, addresses, credit terms and other details regarding debtors will be kept on file somewhere but not in the sales daybook.
3. Correct
4. Incorrect

 

This work is licensed under a Creative Commons Attribution 4.0 International License.

The Sales Journal is commonly known as…?

Select ONE answer:

1. sales invoice.
2. the sales daybook.
3. the sales ledger.
4. None of the above.

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 2

1. Incorrect – Sales invoices are the source documents which are recorded in the sales journal.
2. Correct
3. Incorrect – The sales ledger is the section of the accounting records where the accounts for individual debtors are maintained.
4. Incorrect

 

This work is licensed under a Creative Commons Attribution 4.0 International License.