Chapter Exam

Chapter 4 ACCOUNTANCY : Journal — Online MCQ Test

Q: What is the primary book of original entry called in accounting?

Answer: B. Journal — The journal is the book of original entry where transactions are recorded first in chronological order.

Q: The process of recording transactions in the journal is known as:

Answer: C. Journalizing — Journalizing is the act of recording business transactions chronologically into the journal.

Q: Which entry is passed when more than two accounts are involved in a single transaction?

Answer: B. Compound Entry — A compound entry occurs when two or more debits or credits are involved in one transaction.

Q: Identify the error: 'Paid salary to staff' is journalized as Debit Salaries, Credit Purchases.

Answer: B. It should be Credit Cash — Paying salary involves Cash; the correct entry is Debit Salaries, Credit Cash.

Q: What happens to the equation if a business owner introduces additional capital into the business?

Answer: B. Assets increase, Capital increases — Cash (Asset) comes in and Capital (Equity) increases, keeping the accounting equation balanced.

ACCOUNTANCY · CLASS 11 INTER I YEAR · Andhra State Board

Practice Chapter 4 ACCOUNTANCY : Journal with a free chapter-wise online MCQ test for Andhra State Board CLASS 11 INTER I YEAR ACCOUNTANCY. This chapter covers: This chapter details recording business transactions in the primary journal book determining debit and credit entries narrative explanations and compound entries.. AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 4 ACCOUNTANCY : Journal — Important Questions & Answers (FAQ)

Frequently asked questions from Andhra State Board CLASS 11 INTER I YEAR ACCOUNTANCY — Chapter 4 ACCOUNTANCY : Journal, with answers and explanations. These are sample questions; the exam has its own separate question set.

What is the primary book of original entry called in accounting?

A. Ledger
B. Journal ✓
C. Trial Balance
D. Balance Sheet

Answer: B. Journal
The journal is the book of original entry where transactions are recorded first in chronological order.

The process of recording transactions in the journal is known as:

A. Posting
B. Balancing
C. Journalizing ✓
D. Summarizing

Answer: C. Journalizing
Journalizing is the act of recording business transactions chronologically into the journal.

Which entry is passed when more than two accounts are involved in a single transaction?

A. Simple Entry
B. Compound Entry ✓
C. Opening Entry
D. Closing Entry

Answer: B. Compound Entry
A compound entry occurs when two or more debits or credits are involved in one transaction.

Identify the error: 'Paid salary to staff' is journalized as Debit Salaries, Credit Purchases.

A. It should be Debit Cash
B. It should be Credit Cash ✓
C. Salaries should be credited
D. Purchases should be debited

Answer: B. It should be Credit Cash
Paying salary involves Cash; the correct entry is Debit Salaries, Credit Cash.

What happens to the equation if a business owner introduces additional capital into the business?

A. Assets increase, Liabilities increase
B. Assets increase, Capital increases ✓
C. Assets remain constant, Capital increases
D. Liabilities increase, Capital decreases

Answer: B. Assets increase, Capital increases
Cash (Asset) comes in and Capital (Equity) increases, keeping the accounting equation balanced.

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