Special Journals-1

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Which of the following journals is used to record Cash Payments (Disbursements) ?
1. Cash Receipts Journal
2. Purchases Journal
3. Sales Journal
4. Cash Disbursements Journal
Which of the following Journals is used to record unusual or infrequent types of transactions ?
1. General Journal
2. Sales Journal
3. Cash Disbursements Journal
4. Cash Receipts Journal
Which of the following Special Journals is used to record sales of services or products made on account ?
1. General Journal
2. Sales Journal
3. None of the listed answers is correct
4. Cash Receipts Journal
Transactions recorded in the Special Journals are -
1. Summarized & Posted to the General Ledger
2. Posting to the General Ledger is not required
3. None of the listed answers is correct
4. Individually posted to the General Ledger
What Account would probably not be included in a Purchases Journal ?
1. Cash
2. Accounts Payable
3. Expense Account
4. Purchases
Which of the following is a benefit of using Special Journals ?
1. All of the listed answers are correct
2. Saves time with less frequent postings to the General Ledger
3. Allows assigning different employees to different recording tasks
4. Allows the grouping and recording of similar types of transactions
A Special Journal that is often used to record the return of merchandise sold on account is -
1. Sales Journal
2. Sales Return & Allowances Journal
3. General Journal
4. Purchases Journal
The Accounts Receivable Subsidiary Ledger provides us with -
1. All of the listed answers are correct
2. Record of all Payments Received from a customer
3. Customer's Current Balance
4. Record of all Invoices (sales) made to a customer
Which of the following is not a typical type of business transaction ?
1. All of the listed answe are typical
2. Sale On Account
3. Payment To A Supplier
4. Purchase On Account
Closing Entries are recorded in what Special Journal ?
1. Sales Journal
2. Trial Balance
3. General Journal
4. None of the listed answers is correct
Which of the following accounts is an example of a Control Account ?
1. Accounts Payable
2. None of the listed answers is correct
3. Both listed answers are correct
4. Accounts Receivable
Which of the following Special Journals is normally used to record and summarize employee's salaries and wages ?
1. None of the listed answers is correct
2. Sales Journal
3. Purchases Journal
4. Cash Disbursements Journal
What account would probably not be included in the Cash Receipts Journal ?
1. Accounts Receivable
2. Purchases
3. Cash
4. Sales
Which of the following types of transactions is not normally recorded in the General Journal ?
1. Inventory Adjustments
2. Sales
3. Closing Entries
4. Bank Charges & Fees
Which of the following Journals is used to record all purchases and expenses where suppliers grant credit terms ?
1. Sales Journal
2. Cash Disbursements Journal
3. Purchases Journal
4. General Journal
To properly record a Sale made On Account to a customer you should -
1. Record the Sale in the Purchases Journal & Accounts Payable Subsidiary Ledger
2. None of the listed answers is correct
3. Record the Sale in the Sales Journal
4. Record the sale in the Sales Journal & Accounts Receivable Subsidiary Ledger
Which of the following Journals is used to record the cash received by a business ?
1. Petty Cash Journal
2. Cash Receipts Journal
3. General Journal
4. Sales Journal
The record or ledger that works in conjunction with the Purchases Journal in order to maintain detailed supplier information is -
1. Accounts Receivable Subsidiary Ledger
2. General Ledger
3. General Journal
4. Accounts Payable Subsidiary Ledger

Special Journals-1

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