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

Related Mcqs:

1. In support of business transaction, any written evidence is called ___________?

   A. Discount
   B. Voucher
   C. Allowance
   D. Price

2. _________ is the evidence that a transaction took place?

   A. Source documents
   B. Ledger
   C. Bonds
   D. Journals

3. 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

4. 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

5. BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?

   A. Cash receipts journal
   B. Cash payments journal
   C. Sales journal
   D. Purchase journal

6. If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

   A. Yes
   B. No
   C. Transactions can’t be omitted
   D. none of these

7. Every business transaction affects at least ________ accounts?

   A. One
   B. Two
   C. Three
   D. Infinite

8. The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to

   A. Discounting of the bill with the bank
   B. Payment of the bill on due date
   C. Remitting or receiving the amount
   D. Sending the bill to bank for collection

9. Which of the following is known as the base for preparing trial balance?

   A. Journal
   B. Cash account
   C. Ledger account
   D. Balance sheet

10. Sales return is also known as____________?

    A. Return received
    B. Return Payed
    C. Return inward
    D. Return outward