Tag: journal proper or general journal

Questions Related to journal proper or general journal

A positive exposure will lead to when the currency of the subsidiary company appreciates.

  1. Translation gain

  2. Translation loss

  3. Exchange gain

  4. Exchange loss


Correct Option: A

A person shall not be appointed as Director if he is found to be of unsound mind by _____________.

  1. the company

  2. the company court

  3. a court of competent jurisdiction and the finding is in force

  4. the shareholder


Correct Option: C

Those transactions for which there is no separate book, are recorded in the __________.

  1. Cash book

  2. Bills receivable book

  3. Bills payable book

  4. Journal Proper


Correct Option: D

Wages paid for repairing a machine should be debited to ___________.

  1. Repair account

  2. Machine account

  3. Cash account

  4. Furniture account


Correct Option: B
Explanation:

Amount paid as repairs of a machine is a capital expenditure and should have been debited to Machine A/c and not repair A/c.


A second hand motor car was purchases on credit from B & Co. for Rs $10,000$. It will be recorded in _______________.

  1. Journal Proper (General Journal)

  2. Cash Book

  3. Purchase Book

  4. Sales Book


Correct Option: C
Explanation:

Purchase book is a special purpose subsidiary book prepared by a business to record all credit purchases.

Outstanding salary of Rs $34,000$ to be provided in the accounts will be recorded in  ________________.

  1. Bills Receivable Book

  2. Journal Proper(General Journal)

  3. Purchase Return Book

  4. Purchase Book


Correct Option: B

Investment was sold on credit for Rs $1,00,000$ at par will be recorded in _______________.

  1. Cash Book

  2. General Journal

  3. Purchases Return Book

  4. Purchase Book


Correct Option: B

NSZ. Ltd. makes payments to its sundry creditors through cheques and the cash discount received on these payments is recorded in the triple-columnar cash book. In the event of dishonour of any such cheques, the discount so received should be written back through - 
(i) A debit to discount column of the cash book. 
(ii) A credit discount column of the cash book. 
(iii) A credit to bank column of the cash book. 
(iv) A debit to discount account through journal proper.
(v) A credit to creditor's account through journal proper. 
Select the correct answer from the options given below- 

  1. Only (i) of the above

  2. Only (ii) of the above

  3. Both (i) & (ii) of the above

  4. Both (iv) & (v) of the above


Correct Option: D

Goods were sold on credit basis to Mr. Ram for Rs $10,000$. It will be recorded in _______________.

  1. Journal Proper(General Journal)

  2. Cash Book

  3. Purchase Book

  4. Sales Book


Correct Option: D
Explanation:

Sales Book is a book in which non-cash sales are recorded with details of customer, invoice, amount and date; these details are later posted to each customer's account in the sales ledger.

Sale of Machinery by Mr. X, a dealer in stationery to Mr. Y for 120000 is recorded in _______________.

  1. Cash Book.

  2. Sales Book.

  3. Purchases Book.

  4. Journal Proper.


Correct Option: A