ACC101 TMA1 ELEMENT OF BOOK-KEEPING 1 QUESTION AND ANSWER

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ACC101 TMA1 ELEMENT OF BOOK-KEEPING 1

Q1 ----------------- is a permanent record of all transaction book

  1. Cash book
  2. Trial balance
  3. Ledger
  4. Journal

The answer is C. ledger

Q2 --------------- is the final destination of all transactions in the books of prime entries
A. Cash book

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  1.  Trial balance
    C.  Ledger
    D.  Journal
    the answer is C. ledger
    Q3 The ----------- accounts are the accounts of assets
    A Personal
    B Real
    C Nominal
    D Personal/nominal
    the answer is B. real
    Q4 The real sense of placing the book keeping entry in each account is called ------------
    A Trial balance
    B Entries
    C Posting
    D Transactions
    the answer is B. posting
    Q5 ____ system is an accounting system whereby every transaction that has to be recorded gives rise to two entries
    A Two column
    B Single entry
    C Three column
    D Double entry
    the answer is D. double entry
    Q6 ____ book is used instead of a cash ledger account in the general ledger
    A Cash
    B Petty cash
    C Voucher
    D Invoice
    the answer is B. petty cash
    Q7 Firms operates their petty cash on an ----------- system
    A Continuity
    B Voucher
    C Imprest
    D Cheque
    the answer is C. imprest
    Q8 The ----------- book is written from receipt and petty cash vouchers
    A Cash
    B Petty cash
    C Voucher
    D Invoice
    the answer is B. petty cash
    Q9 -------------- is a reduction given by the supplier of goods to a buyer if the latter pays for them within a period stipulated by the seller at the time of sale.
    A Trade discount
    C Receivables
    D Cash discount
    D Discount allowed
    the answer is D. cash discount
    Q10 The ------------- cash book represent three accounts
    A One column
    B Two column
    C Tripe column
    D Three column
    the answer is D. three column

 

 

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Faith
Faith
November 12, 2018 7:24 pm

Please help me with tma1 on PCR211understanding conflict and war, thanks.

Omoko
Omoko
November 12, 2018 8:20 pm
Reply to  Faith

Please as we said earlier if you need us to solve any tma for you, then send the question us so that
we can work it. we don't have all question except the one provided to us by people like u that visit our website