Question Paper Commerce
1. In order to determine the amount of sales , to which of the following records one should refer ?
(a) Sales book
(b) Sales account
(c ) Journal
(d) Total debtors account
Ans. C
2. Which of the following books should be used to record purchase of a type writer on account ?
(a) Cash books
(b) Purchase books
(c ) Sales book
(d) Journal
Ans. D
3. Which of the following books should be used to record purchase of merchandise an account ?
(a) Cash book
(b) Purchase book
(c ) Sales book
(d) Journal
Ans. B
4. Agreement of the trial balance may not indicate that :
(a) no error remains undetected
(b) double entry has been completed
(c ) arithmetic accuracy is reasonably proved
(d) all ledger accounts have been correctly posted
Ans. D
5. Use of subsidiary books can be made by :
(a) Only large business concerns
(b) Only small business concerns
(c ) Only medium size business concerns
(d) All of these
Ans. D
6. Petty cash system is designed :
(a) to meet the needs of small businesses
(b) to cover small and miscellaneous income
(c ) to cover the small expenditure to be paid in cash
(d) to cover both small incomes and expenditures
Ans. C
7. The term “Imprest system” is used in relation to :
(a) Purchase book
(b) Sales book
(c ) Cash book
(d) Petty cash book
Ans. D
8. Which of the following is an error of commission ?
(a) Error of principle
(b) Wrong amount posted in ledger account
(c ) Non- recording of a transaction in the book of original entry
(d) None of these
Ans. B
9. ‘Bank over draft’ should be classified as :
(a) Current asset
(b) Current liability
(c )Intengible asset
(d) Intangible asset
Ans. B
10. Assets appearing in the book but having no value are known as :
(a) Wasting assets
(b) Intangible assets
(c ) Current assets
(d) Fictitious assets
Ans. D
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