A. General journal
B. Cash journal
C. Purchase journal
D. Purchase return journal
Related Mcqs:
- 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 - Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?
A. Cash payments journal
B. Cash receipts journal
C. Purchases return journal
D. General journal - Cash received from debtor is recorded in which of the following SPECIALIZED journals?
A. Purchase journal
B. Sales journal
C. Cash receipts
D. Cash payments journal - Cash purchases is recorded in which of the following specialized journals?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Cash payments 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 - 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 - Sales on credit is recorded in which of the following journal?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Sales return journal - Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?
A. Error of principle
B. Error of commission
C. Error of omission
D. Error of duplication - Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?
A. Receipts
B. Payments
C. Incomes
D. Expenditures - The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is
A. The Trial Balance will not agree
B. The balance of creditors is understated
C. The purchases are understated
D. The favorable bank balance as per Pass Book is less than the Bank balance as per Cash book
The correct answer to the question: "Credit purchase of plant and machinery is recorded in which of the following journals?" is "General journal".
21 Comments
i think ever credit purchase are recorded in purchase journal
Its general journal not purchase journal becoz it’s purchase of assets not purchase of merchandise on credit that’s why the rite option is A rather than C
Credit purchase is recorded in purchases journal not in general journal because of it is on credit, it is not on cash purchase and if it is cash purchase then it will be also recorded in cash payment journal not in general journal.
I think , credit purchase of any asset will goes to General journal rather than purchase journal.
In purchase journal , we only recorded “goods/merchandise” purchased on credit.
Credit purchases are recorded in purchase journal rather than general journal.
purchase of fixed assets on credit basis is recorded in proper journal, not in general journal…
Since Purchases are on Credit, transaction will be recorded in ‘Purchase Journal’. Option C is correct not A
correct answer is C because Credit Purchases are recorded in ‘Purchase Journal’
It should be purchase journal.
Goods bought for resale are called purchases. This may be in form of raw material or finished goods. Purchase of assets is not called purchases because assets are not purchased for resale.
When goods are purchased on credit these are recorded in Purchase Day Book
While
When assets are purchased on credit these are originally recorded in Journals Proper.
Option A is right.
Purchase/ sale of Fixed Assets or any other Assets other than Goods (merchandise) on credit base is always records in General Journal.
In Purchase Journal the recording of Goods purchased on credit.
the answer is A- General Journal because the purchase means those purchases which are for resale, in reality this is not a purchase of inventory for resale. therefore the proper placement is General journal not purchase journal
Credit Purchase of all fixed assets is recorded in the only jourral genral
Right answer is Option A
Dear all! in purchase and sale Journal only those credit sale purchase will be recorded in which your business is dealing means only merchandise not assets, credit purchase of asset will be recorded in General Journal not in Purchase Journal. Correct Ans is A.
The sale of capital goods or fixed assets are never recorded in sales journal in the same way purchase of capital goods or fixed assets will not be recorded in purchase journal so correct option is “A”
It is not an inventory. It must be recorded in general General.
If it was an inventory purchased on credit then it would be recorded in Purchase Journal.
As the purchase is on credit so it will be recorded in purchase journal
Purchase of good on credit is recorded in purchase journal. But purchase of assets on credit is recorded in general journal..