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Bookkeeping mainly concerns with which part of accounting process ?
A. Recording financial information
B. Analyzing
C. Auditing the books of accounts
D. Preparing financial statementsIn accounting an Economic event is referred to as____?
A. Bank statement
B. Exchange of money
C. Cash
D. TransactionCredit memo or credit note No. is entered in which of the following journal ?
A. Purchase journal
B. Sales return day book
C. General journal
D. Cash journalWhich of the following is known as an evidence that a transaction took place ?
A. Source document
B. Cash book
C. Cash receipts journal
D. General journalSpecialized journals are more adequate for which TYPE OF BUSINESSES ?
A. Sole proprietorship
B. Big businesses
C. Partnership
D. Small businessesCredit note is the basis for recording a transaction in which of the following SPECIALIZED journals ?
A. General journal
B. Cash receipt journal
C. Purchase journal
D. Sales return journalSALE of old furniture” will be recorded in which of the following specialised journals ?
A. General journal
B. Cash receipt journal
C. Sales journal
D. Purchase journalDebit note is the basis for recording a transaction in which of the following journals ?
A. Purchase return journal
B. Purchase journal
C. General journal
D. Cash journalCredit purchase of plant and machinery is recorded in which of the following journals ?
A. Purchase journal
B. Purchase return journal
C. General journal
D. Cash journalA brief explanation recorded below every entry in general journal is commonly known as ______ ?
A. Summary
B. Sales journal
C. Explanation
D. Narration