Transactions of a general nature which occur frequently are first recorded in the

Related MCQs

• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• If any transaction is not recorded in the primary books the same is recorded in _______
• In which book the transactions are recorded originally
• Which of the following transactions of a business is/ are recorded in Journal Proper? (i) Purchase of goods on credit (ii) Sale of Office Furniture for cash (iii) Discounting of Bill of Exchange with a bank (iv) Endorsement of a Bill of Exchange in settlement of debt of the business
• Which of these transactions will not be recorded in cash book—
• What is the order in which the accounting transactions and events are recorded in the books
• Both cash and credit transactions are recorded, on the basis of
• Under single entry system, certain transactions are recorded :
• General donations of relatively large amount is recorded on the
• Only the significant events which affect the business must be recorded as per the principle of