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Practice questions for Purchase day book and purchase return day book

Practice questions for Purchase day book and purchase return day book

Welcome here again in this post the Practice questions for Purchase day book and purchase return day book it will help you to clear your all confusion for this chapter. So here we begin with first question.

Q1. purchase day book, select the correct sentence.

  1. Bills received by a company from its credit suppliers are listed or recorded
  2. Invoice received by a company from its credit customer are listed or recorded
  3. Statements received by a company from its bank are listed or recorded
  4. Payments received by a company from its credit customers are listed or recorded

Q2. The purchase day book includes all of the fundamental information about a?

  1. Selling
  2. purchasing
  3. Demanding
  4. Paying

Q3. The purchase day book usually contain the information about a supplier such as?

  1. Marriage status
  2. Supplier name
  3. Supplier capital
  4. Age of supplier

Q4. Supplier invoice are recorded in___?

  1. Sales day book
  2. Purchase day book
  3. Cash day book
  4. Journals

Q5. Select the correct double entry for credit purchase.

  1. Payable debit, Purchase credit
  2. Purchase credit, Cash debit
  3. Cash credit, Purchase debit
  4. Purchase debit, Payable credit

Q6. ___ are recorded in the purchase returns day book?

  1. Debit note
  2. Credit note
  3. Cash notes
  4. GRN

Q7. The purchase day book and the purchase returns records are both?

  1. Books of prime entry
  2. Financial statements
  3. P/L statement
  4. Cash flow statement

Q8. You have received some defective goods and have returned them to the sender. This is an example of which?

  1. Purchase day book
  2. Sales day book
  3. Purchase return day book
  4. sales return day book

Q9. Supplier invoices will be assigned a specific reference figure based on the ___ system of the supplier.

  1. Accounting
  2. Management
  3. Operational
  4. Tactical
Q10 part (a) & (b)

(a) Misha purchase a new car from Naveen on credit at a cost of $100,000. Choose the correct double entry.

  1. Purchase debit 100,000, cash credit 100,000
  2. Cash debit 100,000, Purchase credit 100,000
  3. Purchase debit 100,000, Payable credit 100,000
  4. Payable debit 100,000, purchase credit 100,000

(b) Misha use that car and not satisfied after using, she return back that car to Naveen. select the correct double entry for this transaction.

  1. Purchase return debit 100,000, cash credit 100,000
  2. Cash debit 100,000, Purchase return credit 100,000
  3. Purchase return debit 100,000, Payable credit 100,000
  4. Payable debit 100,000, purchase return credit 100,000

Answers

  1. Bills received by a company from its credit suppliers are listed or recorded
  2. purchasing
  3. Supplier name
  4. Purchase day book
  5. Purchase debit, Payable credit
  6. Credit note
  7. Books of prime entry
  8. Purchase return day book
  9. Accounting
  10. (a) Purchase debit 100,000, Payable credit 100,000. (b) Payable debit 100,000, purchase return credit 100,000

Hopefully you like these Practice questions for Purchase day book and purchase return day book. Must share it with your friends and with classmates.

Must read:

Receiving money and checking

Recording, summarizing and posting transaction

Double entries for sales, sales tax (FA1 pending topics)

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