_________ is the 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. 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

3. 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

4. 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

5. 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

6. 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

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. Property, Plant and Equipment are conventionally presented in the Balance Sheet at _________?

   A. Replacement cost – Accumulated Depreciation
   B. Historical cost – Salvage Value
   C. Historical cost – Depreciation portion thereof
   D. Original cost adjusted for general price-level changes

10. _________ Checks that are presented to bank but not yet credited by the bank.

    A. Unpresented checks
    B. Uncredited checks
    C. Outstanding checks
    D. Bounced checks