Question

1 choose the correct answer:
1. journal is
a) primary record of transactions b) final record of transactions c) secondary recon
transactions d) compound entry
2. The cash balance in bank account is
a) Debit balance b) Credit balance c) Payable d) Receivable
3 Cash sales are entred in the
a) Purchases book b) cash book c) sales book d) Debit note
4. Purchases book is maintained to record
a) All the purchases b) All the cash purchases c) All the credit purchases d) None of
the above​

Answer 1

Answer:

1 ) a)

• Journal is a primary record of transactions.

2) b)

• Cash balance in bank account is credit balance.

3) c)

• Cash sales are entered in Sales book.

4) c)

• Purchase Day book is maintained to record All the credit Purchases.

_____________________

Journal :

The transactions recorded in the journal will be in the form of journal entries.

Sales Day Book :

The special journal is used for recording transaction relating into credit sales of book. The source document for writing the sales day book is the invoice or bill issued by the same to its customers.

Purchase Day Book :

A special journal maintained for recording all credit purchases of goods is known as Purchase Day book or Purchase Journal.