choose the correct answer 618980

Choose the Correct Answer

1. Purchase Book is used to record
   1. all purchases
   2. Only cash purchases
   3. Only credit purchases
   4. none of the above
2. Sales Book is kept to record
   1. all sales of goods
   2. all credit sales of goods
   3. all cash sales of goods
   4. all goods sent on consignment
3. Purchase of Machinery is recorded in
   1. Sales Book
   2. Purchases Book
   3. Cash Book
   4. Journal Proper
4. Purchases Return Book is used to record
   1. returns of goods purchased on credit
   2. returns of goods purchased for cash
   3. returns of goods purchased by cash and credit
   4. returns of goods by the seller
5. Sales Return Book is used to record
   1. returns of goods sold for cash
   2. returns of goods sold on credit
   3. returns of goods sold on both cash and credit
   4. none of the above
6. On 1st May 2009, Vivek draws a bill on Bhaskar for three months, its due date is:
   1. 1st August, 2009
   2. 4th August, 2009
   3. 31st July, 2009
   4. none of the above
7. The Cash Book records
   1. all cash payment
   2. all cash receipts
   3. all cash receipts and cash payments
   4. goods purchased for cash only
8. The balance of Cash Book indicates
   1. cash in hand
   2. cash in bank
   3. net profit
   4. only the difference between creditors and debtors
9. If a cheque issued by us is dishonoured the credit is given to:
   1. bank account
   2. supplier’s account
   3. customer’s account
   4. none of the above
10. The balance in the Petty Cash Book is
    1. a liability
    2. profit
    3. an asset
    4. an income
11. On 1 January 2009, Rs 1,750 was given to a petty cashier. The amount spent by him was Rs 1,250. On 1 February the cashier under the imprest system will receive:
    1. Rs 1,250
    2. Rs 500
    3. Rs 1,750
    4. Rs 3,000