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Questions and Answers
Which book is meant for entering only credit sales of goods by the trader?
Which book is meant for entering only credit sales of goods by the trader?
- Sales Book (correct)
- Sales Return Book
- Bill Book
- Purchases Return Book
What is the main purpose of using subsidiary books in a business?
What is the main purpose of using subsidiary books in a business?
- To complicate the recording process
- To delay the posting of transactions
- To reduce the volume of transactions (correct)
- To increase the chances of errors
Why is it practically impossible to write all transactions in one journal for a business with a large number of transactions?
Why is it practically impossible to write all transactions in one journal for a business with a large number of transactions?
- Because it becomes bulky and voluminous (correct)
- Because it facilitates the installation of an internal check system
- Because it simplifies the recording process
- Because it reduces the chances of errors
What type of transactions can be grouped in one category according to their nature?
What type of transactions can be grouped in one category according to their nature?
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Which book is meant for entering the details of goods returned by the business to its suppliers?
Which book is meant for entering the details of goods returned by the business to its suppliers?
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