Which of the following is the internal user of financial statements?

A: Creditor of the business

B: Government agency

C: Shareholder of the business

D: Manager of the business

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Manager of the business

Specialized journals are more adequate for which TYPE OF BUSINESSES?

A: Small businesses

B: Big businesses

C: Sole proprietorship

D: Partnership

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Big businesses

Which of the following is known as an evidence that a transaction took place?

A: Cash receipts journal

B: General journal

C: Source document

D: Cash book

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Source document

BUSINESS paid rent amounting to $100³ which of the following specialized journals records this transaction?

A: Cash receipts journal

B: Cash payments journal

C: Sales journal

D: Purchase journal

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Cash payments journal

Credit memo or credit note No. is entered in which of the following journal?

A: General journal

B: Cash journal

C: Purchase journal

D: Sales return day book

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Sales return day book

Credit purchase of plant and machinery is recorded in which of the following journals?

A: General journal

B: Cash journal

C: Purchase journal

D: Purchase return journal

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

General journal

Debit note is the basis for recording a transaction in which of the following journals?

A: General journal

B: Cash journal

C: Purchase journal

D: Purchase return journal Read More Details about this Mcq

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Purchase return journal

SALE of old furniture will be recorded in which of the following specialised journals?

A: Purchase journal

B: Sales journal

C: General journal

D: Cash receipt journal

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

General journal

Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

A: Purchase journal

B: Sales return journal

C: General journal

D: Cash receipt journal

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Sales return journal

Which of the following specialized journals records œgoods returned by customers?

A: Purchase journal

B: Sales journal

C: Purchases return journal

D: Sales return journal

Answer & Explanation Discussion
Save for Later (0)
Please login to bookmarkClose

No account yet? Register

Sales return journal

1 32 33 34 35 36 40