MCQs For NCERT Class 11 Chapter 4 Recording of Transactions – II

MCQs Class 11

Please refer to the MCQ Questions for Class 11 Accountancy Chapter 4 Recording of Transactions – II with Answers. The following Recording of Transactions – II Class 11 Accountancy MCQ Questions has been designed based on the latest syllabus and examination pattern for Class 11. Our experts have designed MCQ Questions for Class 11 Accountancy with Answers for all chapters in your NCERT Class 11 Accountancy book.

Recording of Transactions – II Class 11 MCQ Questions with Answers

See below Recording of Transactions – II Class 11 Accountancy MCQ Questions, solve the questions and compare your answers with the solutions provided below.

Question . Payment of wages for installation of machinery will be recorded as 
(a) Debit Machinery A/c and credit Cash A/c
(b) Debit Cash A/c and credit Machinery A/c
(c) DebitWages A/c and credit Cash A/c
(d) None of the above 

Answer

A

Question . Cash book is considered as both ……… and ……… book.
(a) primary, subsidiary
(b) subsidiary, principal
(c) tertiary, principal
(d) None of these 

Answer

B

Question . Sales account always shows …………….. balance. 
(a) debit
(b) credit
(c) Either (a) or (b)
(d) Can’t say 

Answer

B

Question . Double column cash book records
(a) all transactions
(b) cash and bank transactions
(c) only cash transactions
(d) only credit transactions 

Answer

B

Question . Balancing of an account means that the two sides are totalled and the difference between them is shown on the side, which is shorter in order to make their totals equal.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . Which of the following will be recorded in cash book?
(a) Trade discount of ₹ 5,000
(b) Bad debts of ₹ 3,000
(c) Credit purchases of ₹ 25,000
(d) None of the above 

Answer

D

Question . If Razi paid ₹ 9,900 in settlement of her account of ₹ 10,000, then the discount allowed of ₹ 100 will be recorded in
(a) Journal book
(b) Cash book
(c) Both (a) and (b)
(d) None of these 

Answer

A

Question . Cash deposited into bank ₹ 50,000 will be recorded as
(a) debit of bank column with ₹ 50,000 and credit of cash column with ₹ 50,000.
(b) debit of cash column with ₹ 50,000 and credit of bank column with ₹ 50,000.
(c) debit of bank column with ₹ 50,000 and also debit of cash column with ₹ 50,000.
(d) debit of cash column with ₹ 50,000 also credit of cash column with ₹ 50,000. 

Answer

A

Question . Which of the following is/are not recorded in purchase book?
(i) Cash purchase of goods worth ₹ 5,000.
(ii) Purchase of furniture on credit worth ₹ 75,000.
(iii) Purchase of stationery of ₹ 3,000 on credit.
(a) Only (i)
(b) (ii) and (iii)
(c) (i) and (iii)
(d) (i), (ii) and (iii) 

Answer

D

Question . The balance of sales column in sales book is ₹ 90,000. If ₹ 3,000 is recovered from debtors, what will be the balance in the sales book?
(a) ₹ 90,000
(b) ₹ 93,000
(c) ₹ 87,000
(d) None of these 

Answer

A

Question . Which account will be debited if proprietor pays ₹ 5,000 as life insurance premium from business cash?
(a) Cash A/c
(b) Bank A/c
(c) Insurance A/c
(d) Drawings A/c 

Answer

D

Question . If XYZ Electronics Ltd. purchases 20 TV @ ₹ 2,000 per piece and 15 tape recorders @ ₹ 12,500 per piece. There was a trade discount of 20%.What will be the amount recorded in purchase book?
(a) ₹ 40,000
(b) ₹ 1,87,500
(c) ₹ 2,27,500
(d) ₹ 1,82,000 

Answer

D

Question . Bank column of cash book can have both debit and credit balance.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . Contra entries are not posted into the ledger.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . On 1st April, 2020, the balance of cash column of cash book stood at ₹ 50,000. After paying salaries of ₹ 20,000, receiving ₹ 20,000 from debtors and giving a cheque of ₹ 5,000  to a creditor S, balance of cash will be 
(a) ₹ 45,000
(b) ₹ 50,000
(c) ₹ 70,000
(d) ₹ 85,000 

Answer

B

Question . Under ………………. system, a definite sum is given to the petty cashier at the beginning of certain period and the amount spent is reimbursed from time-to-time. 
(a) financial
(b) accounting
(c) imprest
(d) None of these

Answer

C

Question . If a cheque of ₹ 25,000 is deposited on the same day, it is received and eventually the cheque is dishonoured, it will be recorded as
(a) Debtor A/c      Dr 25,000
           To Bank A/c             25,000
(b) Bank A/c         Dr 25,000
           To Debtor A/c           25,000
(c) Debtor A/c       Dr 25,000
           To Cash A/c              25,000
(d) None of the above 

Answer

A

Question . Identify contra entry from the following.
(a) Salary paid ₹ 20,000.
(b) Cash received from P ₹ 10,000.
(c) Cash deposited into bank ₹ 25,000.
(d) Cash withdrawn from bank for personal use ₹ 5,000. 

Answer

C

Question . Which of the following about cash book is not true?
(a) It serves the purpose of both journal as well as the ledger (cash) account.
(b) It is also called the book of original entry. 
(c) When a cash book is maintained, transactions of cash are not recorded in the  journal, and no separate account for cash or bank is required in the ledger.
(d) It records both cash and credit transactions.

Answer

D

Question . What is the journal entry passed if cheques received are deposited on different dates?
(a) Cheques-in-hand A/c         Dr
            To Debtors
(b) Debtors A/c                      Dr
            To Cheques-in-hand
(c) Bank A/c                          Dr
            To Debtors
(d) None of the above 

Answer

A

Question . Which of the following differentiates between credit note and debit note?
(a) The credit note is prepared by the seller and the debit note is prepared by the buyer. 
(b) The credit note is prepared by the buyer and the debit note is prepared by the seller. 
(c) The credit note is prepared by the customer and the debit note is prepared by  the cashier.
(d) None of the above 

Answer

A

Question . M/s ABC Suppliers sold on credit
(i) Two water purifiers @ ₹ 2,100 each and
(ii) Five buckets @ ₹ 130 each to M/s BCD Traders. What will be the amount shown in sales book?
(a) ₹ 4,200
(b) ₹ 2,230
(c) ₹ 650
(d) ₹ 4,850 

Answer

D

Question . The ……… book is used to record return of goods by customers that had been sold to them on credit.
(a) sales return
(b) sales
(c) cash
(d) None of these 

Answer

A

Question . Given-Imprest amount = ₹ 10,000. What will be the amount of reimbursement, if following expenses were incurred by the petty cashier during the month?  Wages = ₹ 1,900 , Tiffin = ₹ 1,200, Small repairs = ₹ 900, General expenses = ₹ 450.
(a) ₹ 1,900
(b) ₹ 2,100
(c) ₹ 4,000
(d) ₹ 4,450 

Answer

D

Question . The periodic total of purchases return journal is posted to
(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture account 

Answer

C

Question . What does credit balance of bank account in cash book signify?
(a) Overdraft
(b) Cash deposited in bank
(c) Cash withdrawn from bank
(d) None of the above 

Answer

A

Question . Goods distributed as samples for sales promotion worth ₹ 25,000 will be recorded in
(a) Sales book
(b) Cash book
(c) Journal proper
(d) None of these 

Answer

C

Question . Which of the following is/are an advantage of maintaining petty cash book?
(a) Saving of time and efforts of chief cashier
(b) Effective control over cash disbursements
(c) Convenient recording
(d) All of the above 

Answer

D

Question . A debit note is prepared by
(a) Purchaser
(b) Seller
(c) Cashier
(d) None of these 

Answer

A

Question . Cash sales are recorded in the …….. .
(a) Sales book
(b) Cash book
(c) Purchase book
(d) None of these 

Answer

B

Question . When a firm maintains a cash book, it need not maintain
(a) journal proper
(b) purchases (journal) book
(c) sales (journal) book
(d) bank and cash account in the ledger 

Answer

D

Question . In cash book, there will only be debit balance.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer

A

Question . A cheque for ₹ 10,000 is received from P on 7th August, 2021 and it is endorsed to M on 9th August, 2021. What will be the journal entry passed on 9th August?
(a) Cheques-in-hand A/c     Dr 10,000
                To M’s A/c                          10,000
(b) M’s A/c                         Dr 10,000
                To Cheques-in-hand           10,000
(c) Cheques-in-hand A/c     Dr 10,000
                To P’s A/c                          10,000
(d) Cheques-in-hand A/c     Dr 10,000
                To M’s A/c                         10,000 

Answer

B

Question . When a cash book is maintained, a separate cash book in the ledger is not opened. 
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . Salary due for the month of March 2021 worth ₹ 20,000 will appear in which side of cash book?
(a) Receipt
(b) Payment
(c) Contra
(d) None of these 

Answer

D

Question . Contra entries refer to 
(a) entries that are made only on debit side of cash book.
(b) entries that are made only on credit side of cash book.
(c) entries that are made on both sides of cash book.
(d) None of the above 

Answer

C

Question . Cash purchase of goods is recorded in ……… .
(a) Sales book
(b) Cash book
(c) Purchase book
(d) None of these 

Answer

B

Question . Purchase book records all cash purchases of goods.
(a) True
(b) False
(d) Can’t say
(d) Partially true 

Answer

B

Question . All credit sales of merchandise are recorded in the sales journal.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . If cheque of ₹ 3,000 is received from A, what will be the journal entry?
(a) Cash A/c    Dr 3,000
          To A                  3,000
(b) Bank A/c    Dr 3,000
          To A                  3,000
(c) A               Dr 3,000
          To Bank A/c       3,000
(d) None of the above 

Answer

B

Question . Petty cash book is a book having record of big payments.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

B

Question . A ………………… is prepared, when a party is to be given a credit for reasons other than credit purchase.
(a) credit note
(b) debit note
(c) written note
(d) None of these

Answer

A

Question . Assets sold on credit will be entered in ……… .
(a) Sales book
(b) Journal proper
(c) Purchase book
(d) None of these 

Answer

B

Question . What will be the amount reflected in the sales return book of ZXC Ltd if 2 table fans @ ₹ 5,000 each are returned by QWE Ltd.? There was a trade discount of 15 %. CGST and SGST are at 6% each.
(a) ₹ 9,520
(b) ₹ 10,000
(c) ₹ 8,500
(d) None of these 

Answer

A

Question . Which of the following method(s) can be used to prepare a petty cash book?
(a) Ordinary system
(b) Imprest system
(c) Financial system
(d) Only (a) and (b) 

Answer

D

Question . The source document for recording entries in the sales journal are sales invoice or bill issued by the firm to the customer.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . Transactions that cannot be recorded in any special journal are recorded in journal called the ……… .
(a) Cash book
(b) Journal
(c) Ledger
(d) Journal proper 

Answer

D

Question . Purchase return of goods is recorded in ………….. 
(a) Purchase return book
(b) Purchase book
(c) Cash book
(d) None of the above 

Answer

A

Question . A ……………… is a document evidencing a debit to be raised against a party for reasons other than sale on credit.
(a) debit note
(b) credit note
(c) written note
(d) None of these 

Answer

A

Question . The sales return book does not record which of the following?
(a) Return of goods sold on cash basis.
(b) Return of goods sold on credit basis.
(c) Return of assets other than the goods in which the firm deals in.
(d) Both (a) and (c) 

Answer

D

Question . Special journals prove economical and make division of labour possible in accounting work.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

A

Question . Which of the following entries are recorded in journal proper?
(a) Purchase of items on credit other than goods 
(b) Goods withdrawn by the owner for personal use
(c) Endorsement and dishonour of bills of exchange
(d) All of the above 

Answer

D

Question . The source document for recording entries in the sales return book is generally the ……… .
(a) credit note
(b) debit note
(c) trial balance
(d) None of these 

Answer

A

Question . M/s ABC & Sons sold 40 ink pads @ ₹ 8 each, 50 files @ ₹ 10 each, 20 colours books @ ₹ 20 each to Global Stationers and provided 5% trade discount. GST of 5% is applicable on stationery product. How this transaction will be recorded in Global Stationers account? 
(a) To Sales A/c ₹ 1,216.95
(b) By Sales A/c ₹ 1,216.9
(c) By Sales A/c ₹ 1,220
(d) To Sales A/c ₹ 1,159 

Answer

A

Question . Which of the following is not a special purpose book?
(a) Cash Book
(b) Sales Return Book
(c) Journal
(d) Journal Proper 

Answer

C

Question . The accounts of expenses/losses and gains/revenues are also balanced.
(a) True
(b) False
(c) Can’t say
(d) Partially true 

Answer

B

Question . SDF Ltd. returned 2 washing machines purchased from GHJ Ltd. at the list price of ₹ 21,000 per machine less trade discount of 20%, CGST and SGST was paid at 6% each. What will be the amount to be recorded in purchases return book?
(a) ₹ 33,600
(b) ₹ 47,040
(c) ₹ 37,632
(d) ₹ 18,816 

Answer

A

Question . The periodic total of sales return journal is posted to
(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account 

Answer

D

(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Question . Assertion(A) In large businesses, journal is sub-divided into special journals.
Reason (R) Special journals prove economical and make division of labour possible in accounting work.

Answer

A

Question . Assertion (A) All credit purchases of goods are recorded in the purchases journal.
Reason (R) Cash purchases of goods are recorded in cash book. 

Answer

A

Question . Assertion (A) Petty cash book records repetitive large expenses.
Reason (R) Petty cash book is maintained so that the cash book does not become bulky due to repetitive transactions. 

Answer

D

Question . Assertion (A) Sales return journal is used to record return of goods by customers to them on credit.
Reason (R) In case of balancing the accounts, if the debit side exceeds the credit side, the difference is written on the debit side. 

Answer

C

Fill In The Blanks

Question. Bought goods for Rs.6,000 in cash, CGST and SGST paid @6% each. ____________ amount is to be entered in cash book.

Answer

Rs.6,720

Question. A cheque of rupees 10000 received from Gopal Chandra and was deposited on _____________ account is credited.

Answer

Gopal Chandra

Question. Cash discount allowed and received is recorded by the way of _________ entry.

Answer

journal

Question. The transaction that effects both sides of the cash book are known as __________ . 

Answer

Contra entries

Question. When a cheque is received and deposited in the bank from the customer, returned dishonoured the _____________ account is debited and bank account is ___________________. 

Answer

customer’s, bank

Question. Received from Vedika in full settlement of her account of Rs.6000 and ¾ of it is deposited in bank on same day. The amount to be debited to cask book is Rs. _________ in cash column and Rs. __________ in bank column.

Answer

1500, 4500

Question. The balance of Sales book is Rs.25,000. Rs.5,000 recovered from debtors . The balance of Sales Book will be transferred to sales account by amount Rs. _____________________. 

Answer

25,000

Question. Goods destroyed by fire will be recorded in _____________.

Answer

journal proper

Question. For interstate transactions of goods _______________ GST is charged.

Answer

integrated

Question. A second hand motor car was purchased from Veer Brothers for Rs.10,000. It is recorded in ____________________ book.

Answer

journal proper

Question. Purchased goods for cash Rs.6,720 including CGST, SGST 6 %, received discount of Rs.220. ___________ amount is to be entered in cash book.

Answer

Rs.6,500

Question. Transactions which cannot be recorded in other subsidiary books are recorded in ___________.

Answer

journal proper

Question. Increase in assets is ______________ and decrease in liabilities in _____________. 

Answer

debited, debited

Question. Rajesh who owed Rs.5,000 became insolvent and 40p in a rupee wasn’t realised. Amount to be posted in cash book is ______________.

Answer

Rs.3000

Question. Weekly/ monthly total of purchases book is posted to ___________ side of _____________ account.

Answer

debit,purchases

Question. M/S Nayar and Co. purchased goods for cash amounting to Rs.10,000 from Ruchi and Co. ________ amount is to be recorded in Purchases Book.

Answer

Nil/no 

Question. Cash and bank transactions are recorded in the cash book in ____________ order. 

Answer

chronological

Question. The discount which is allowed by the seller of the goods to the customer for making prompt payment is called ____________ discount.

Answer

cash

Question. Reduction in the value of goods sold, allowed by the seller for the poor quality of goods sold, is called ____________

Answer

Rebate

Question. Paid income tax amounting to Rs.20,000 through cheque. ____________ A/c will be debited. 

Answer

Drawings

Question. Raghav, a customer, to whom goods were sold, was allowed rebate of Rs.2000 because they were of poor quality. These goods were sold charging CGST and SGST @ 9% each. Raghav A/c will be credited with Rs. ____________ .

Answer

2,360

Question. Cash received from debtors appears on the ____________ side of the debtors A/c.

Answer

credit

Question. Opening cash balance Rs.60,000. Cash paid to creditors Rs.15,000. Wages paid Rs.3000. Cash account has a ____________ balance of Rs ____________

Answer

Debit ,42,000

Question. Bought goods from Sonam for Rs.60,000 for cash and paid carriage charges Rs.1000. Purchases account will be debited with Rs. ____________ .

Answer

60,000

Question. Bricks , cement etc. for Rs.1,50,000 and timber for Rs.2,00,000 were purchased for the construction of building. Payment was made by cheque. ____________ A/c will be debited with Rs. ____________ .

Answer

building, 3,50,000

True / False :

Question. In the cash book, transactions are not recorded in chronological order.     

Answer

False

Question. In the books of M/S Rohan enterprises, the cash received Rs.12,000 will be recorded on the debit side of cash book.

Answer

True

Question. The goods purchased in cash Rs.20,000 will be recorded in receipt side of cash book.   

Answer

False

Question. Non cash transactions are recorded in cash books.   

Answer

False

Question. The opening balances of a firm are Machinery RS.5,00,000, Creditors Rs. 2,00,000and capital Rs.10,00,000. The entries for the same will be passed in journal proper.     

Answer

True

Question. Two column Cash book also records cash discount allowed and received.     

Answer

False

Question. The petty Cash book is used to record large cash payments.   

Answer

False

Question. Cash receipts are recorded in the credit side of cash book.   

Answer

False

Question. Cash book is a journalized ledger.   

Answer

True

Question. The form filled for depositing cash/cheques in the bank is called Pay-in-slip.   

Answer

True

Question. M/S Raman has purchased 80 bottles @ Rs.100 each from M/S Murari on credit. CGST and SGST is levied @6% each.Rs.1,440 will be shown in Input CGST column in the purchase book.   

Answer

False

Question. The source document for recording entries in the sale return book is a debit note.   

Answer

False

Question. The amount given to the petty cashier at the beginning of the certain period is called imprest system.

Answer

True

Question. The credit purchase of assets are recorded in purchase book.

Answer

False

Question. While recording transactions in the bank column of the cash book, rule applicable to personal account is followed.   

Answer

True

Question. The transactions in which the supplier name is not given, is treated as credit transaction.   

Answer

False

Question. Rahul purchased goods from Zee Ltd. Costing Rs. 50,000 & paid Rs.20,000 in cash immediately. Afterwards, he was declared insolvent & only 50 paisa in a rupee could be recovered from his estate. Bad Debts A/c will be debited by Rs. 30,000.

Answer

False

Question. Purchased goods costing Rs. 10,000 for cash at 6% CGST & SGST each. Cash A/c will be credited by Rs. 11,200.

Answer

True

Question. Cash Discount allowed to a customer on sale of goods is credited to Discount A/c.

Answer

False

Question. Ledger is a book in which only real & nominal accounts are maintained.

Answer

False

Question. When more than one account is debited or credited in a transaction, it is termed as a simple journal entry.

Answer

False

Question. An account is said to have a debit balance if total of debit side is more than credit side. 

Answer

True

Question. On 31st March,2019, Mr. Z paid wages Rs. 20,000 and Received Rent Rs.30,000.These transactions can be shown in a single compound entry.

Answer

False

Question. Salary outstanding is an example of a nominal A/c.

Answer

False

Question. Interest is due on loan but not paid for last 9 months. If Loan amount was Rs.12,00,000 taken @ 6% pa. Adjustment entry in journal proper will be recorded as:

Loan A/c Dr.54,000
To Interest on Loan A/c54,000
Answer

False

Match The Following

Question. Match with the suitable option

I Sold old newspaper for casha) Purchase book
II Purchased 10 colour TV @15000 eachb) Journal proper
c) Cash book
Answer

I- c; II -a

Question. Match with the suitable option

I Sold to M/S A 30 shirts@400 each 40 trousers@300 each TD @ 10%a) 6720
II Return 60 pen drive to M/S X purchased @100 each , IGST @12%b) 12544
c) 21600
Answer

I- c; II -a

Question. Match with the suitable option

I For closing purchasesa) Trading A/C is ‘Cr’
II For closing salesb) Trading A/C is ‘Dr’
III For closing salariesc) P/L A/C is ‘Cr’
d) P/L A/C is ‘Dr’
Answer

I- b ; II -a; III-d

Question. Match with the suitable option

I A document prepared by the customer Of the goodsa) Credit note
II A document prepared by the seller Of the goodsb) Voucher
c) Debit note
Answer

I- c; II -a

Question. Match with the suitable option

I It records transactions of similar naturea) Journal proper
II It does not record transactions of Similar natureb) Journal
c) Subsidiary book
Answer

I- c; II -a

Question. Match with the suitable option

I Bank Chargesa) Bank column receipt side
II Interest allowed by bankb) No entry
c) Bank column payment side
Answer

I- c; II -a

Question. Match with the suitable option

I Record of all cash paymentsa) Sales Book
II Record of payment of all small expensesb) Cash Book
c) Petty cash Book
Answer

I- b; II – c

Question. Match with the suitable option

I Discount allowed , cheque dishonoureda) No Cash Account is needed
II When cash book is preparedb) Cash book
c) Journal Proper
Answer

I- c; II -a

Question. Match with the suitable option

I Additional cash introduceda) Return inward book
II Return of goods sold by customerb) Cash Book
c) Debit note
Answer

I- b; II -a

Question. Match with the suitable option

I Source document for recording in purchases booka) Credit note
II Note issued by seller on receipt of goods from customerb) Debit note
c) Inward invoice
Answer

I- c; II -a

Question. Match with the suitable option

I person who maintain petty cash booka) Analytical Petty Cash Book
II petty cash book in which payment side is ruled in suitable columnsb) Simple Cash Book
c) Petty Cashier
d) Head Cashier
Answer

I- c; II -a

Question. Match with the suitable option

I source document required to record transaction in Sales Return Booka) Sales Invoice
II source document required to record transaction in Sales Bookb) Debit note
c) Credit note
Answer

I- c; II -a

Question. Match with the suitable option

I Withdrawn from bank Rs. 4,000a) Drawing Account
II Withdrawn from bank for personal useb) Contra Entry
c) Bank Account
Answer

I- b; II -a

Question. Match with the suitable option

I Imprest amount Rs. 5,000. Expenses incurred during the month Rs. 2,600 amount reimbursed.a) Rs. 2,400
II Imprest amount Rs. 8,000. Expenses details for the months Rs. 5,500. Has unpaid expenses
vouchers Rs. 200 amount reimbursed.
b) Rs. 5,500
c) Rs. 2,600
d) Rs. 5,300
Answer

I- c; II -b

Question. Match with the suitable option

I Cheque received amount Rs. 46,000 from Mr. Z after cash discount @8% amount due to Za) Rs. 4,000
II for the above transaction cash discount allowed isb) Rs. 42,320
c) Rs. 50,000
d) Rs. 3,680
Answer

I- c; II -a

Question. Match with the suitable option

I Interest on Overdraft charged by bank @ 10 % bank overdraft Rs. 50,000a) Rs. 10,000
II Interest on Loan due for 9 months @ 10% p.a. Loan amount Rs. 2,00,000. Interest amount isb) Rs. 5000
c) Rs. 12,000
d) Rs. 15,000
Answer

I- c; II -a

Question. Match with the suitable option

I Goods returned by Priti & Co. 20 Fans @ Rs. 3,000 each 10 Coolers @ Rs. 1,500 each Less: Trade Discount @ 5% Amount recorded in Sales Return Column a) Rs. 75,000
II In the above transaction IGST is levied @12% , amount recorded in IGST columnb) Rs. 71,250
c) Rs. 78,750
d) Rs. 8,550
Answer

I- b; II -d

Question. Match items in List I with terms in List II using the codes given below the lists

List –I List –II
I When the goods are purchased and carriage is paid on it what entry would be passeda) Purchase A/c. Dr.
Carriage A/c Dr.
To cash A/c
II Goods purchased from ram for cashb) Purchase A/c Dr.
To cash A/c
Answer

I- a; II -b

Question. Match items in List I with terms in List II using the codes given below the lists

List –I List –II
I Insurance premium paid for the year is Rs 1200 on 1st July 2016. Amount
that is prepaid along with the entry is
a) Prepaid insurance A/c dr.300
To insurance A/c 300
II Entry of insurance premium paid isb) Insurance premium Dr. 1200
To cash A/c. 1200
c) Insurance premium Dr. 300
To cash A/c 300
Answer

I- a; II -b

Question. Match items in List I with terms in List II using the codes given below the lists

List –I List –II
I Sudhir Kumar who owed us rupees 30,000 has failed to pay the amount. he paid
as a compensation of 45 paise in a rupee by cheque which account would be
credited and with what amount
a) Bad debts recovered Rs30000
II Amount not received from Sudhir Kumar would be debited withb) Sudhir Kumar Rs30000
c) Bad debts A/c Rs16500
d) Cash account Rs13500
Answer

I- a; II -b

Question. Match items in List I with terms in List II using the codes given below the lists

List –I List –II
I X sold goods to y for rupees 10,000 at 10% trade discount and 2% cash discount X resides in Jaipur and y resides in Kolkata which GST would be levied and with what rate is rate of GST and
sgst is 6% each
a) Cgst @ 6%
II If goods are sold within the state which type of GST would be levied if igst is, 12 %b) Sgst @ 6%
c) Cgst @ 6%, sgst @ 6%
d) I GST @ 12%
Answer

I- d; II -c

Question. The opening balance of machine account is rupees Rs 100,000. Machine sold during the year is rupees 20,000 At par. Depreciation charged during the year is rupees Rs10,000

List –IList –II
I The closing balance of machine account isa) 70,000
II The closing balance of cash account isb) 80,000
c) 30,000
d) 20,000
Answer

I- a; II -d

Recording of Transactions – II Class 11 MCQ Questions