Give a specimen of journal.
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Chapters
1: Introduction to Commercial Organisations
2: Ownership Structures - Sole Proprietorship and Joint Hindu Family Business
3: Ownership Structures - Partnership
4: Ownership Structures - Joint Stock Company
5: Ownership Structures - Cooperative Society
6: Public Sector Enterprises
7: Functioning of a Commercial Organisation
8: Communication in a Commercial Organisation
9: Ways of Communicating
10: Tools of Communication
11: Nature and Terminology of Accounting
▶ 12: Accounting Records
13: Natural Resources
14: Depletion of Resources
15: Practices for Conservation of Resources
16: Industrial Pollution and Degradation of Environment
2: Ownership Structures - Sole Proprietorship and Joint Hindu Family Business
3: Ownership Structures - Partnership
4: Ownership Structures - Joint Stock Company
5: Ownership Structures - Cooperative Society
6: Public Sector Enterprises
7: Functioning of a Commercial Organisation
8: Communication in a Commercial Organisation
9: Ways of Communicating
10: Tools of Communication
11: Nature and Terminology of Accounting
▶ 12: Accounting Records
13: Natural Resources
14: Depletion of Resources
15: Practices for Conservation of Resources
16: Industrial Pollution and Degradation of Environment
![C. B. Gupta solutions for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई chapter 12 - Accounting Records - Shaalaa.com](/images/commercial-applications-english-class-9-icse_6:a8c313becfb946c8815ff7559b43feac.jpg "C. B. Gupta solutions for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई chapter 12 - Accounting Records")
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Solutions for Chapter 12: Accounting Records
Below listed, you can find solutions for Chapter 12 of CISCE C. B. Gupta for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई.
EXERCISESQUESTION BANK
EXERCISES [Pages 148 - 151]
C. B. Gupta solutions for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई 12 Accounting Records EXERCISES [Pages 148 - 151]
Objective Type Questions:
Vouchers, invoice, bills, cash memos are evidence of day-to-day transactions. These documents are called ______.
raw documents
source document
account documents
none of these
Which of the following is not called books of original entry?
Journal
Cashbook
Sales return book
None of these
A ______ account may be defined as summary of all transactions relating to a particular head of one place.
Journal
Ledger
Credit book
None of these
Which of the following accounts document is called a ‘book of final entry’?
Journal
Ledger
both (a) & (b)
None of these
Statement I: Narration is written for each entry in the Journal.
Statement II: No Naration is written in a Ledger.
(I) is correct.
(II) is correct.
Both (I) and (II) is correct.
Neither statement is correct.
The left hand side of Ledger Account is called “Debit Side” and the right hand side of it is called “Credit Side” which are divided by two closely vertical parallel line.
True
False
Journal folio is term used in Ledger as a part of Ledger statement. It is the number at which our transaction is recorded in the journal.
True
False
Debtor’s Ledger consists of accounts of customer to whom goods are sold.
on credit
on debit
Either on credit or on debit
none of these
Creditor’s Ledger contains accounts of supplies from whom goods are purchased ______.
on cash
on debit
on credit
Either (a) or (b)
All cash receipts and cash payments are straight way recorded in the Cash Book. Which is correct?
Cash Book is a special journal.
Cash Book is a special Ledger.
Cash Book is called Finance Book.
None of these.
Every time cash is paid into bank or withdrawn from bank for office use, entries are made in both bank and cash columns. Such entries are known as ______.
Contra Entries
Counter Entries
Deity Entries
none
Assertion (A): The journal is the initial recording of financial transactions.
Reasoning (R): The ledger is a principal book of accounts in accounting.
A is true but R is false.
A is false but R is true.
Both A and R are true and R explains A.
Both A and R are true but R does not explain A.
Assertion (A): The Trial Balance is a statement that lists all ledger accounts and their balances.
Reasoning (R): It ensures the equality of debits and credits in the ledger, serving as a tool to identify errors.
A is true but R is false.
A is false but R is true.
Both A and R are true and R explains A.
Both A and R are true but R does not explain A.
Which statement best describes the purpose of preparing a trial balance?
To classify all transactions into personal, real, and nominal accounts.
To identify arithmetical errors in ledger accounts.
To replace the preparation of final accounts.
To summarise cash transactions for the period.
An error of principle, such as debiting an asset account instead of an expense account, will not affect the agreement of the trial balance.
True
False
What makes the ledger a “book of final entry”?
It records transactions chronologically.
It provides a classified summary of all accounts.
It includes narrations for each transaction.
It includes source documents for all entries.
How does a three-column cash book enhance efficiency in accounting?
By removing the need for ledger postings.
By combining cash, bank, and discount transactions in one book.
By simplifying transactions with personal accounts.
By summarizing sales and purchases.
A ledger can replace a trial balance for verifying arithmetical accuracy in accounts.
True
False
In what scenario would a ledger be more helpful than a trial balance?
Identifying errors in debit and credit totals.
Checking the details of a specific account.
Verifying the classification of accounts.
Ensuring double-entry principles are followed.
An error in recording the transaction amount in both debit and credit columns of the journal will not impact the trial balance.
True
False
Statement I: A ledger can be used to identify specific account balances for decision-making.
Statement II: A trial balance is more detailed than a ledger for analysing transactions.
Only I is correct.
Only II is correct.
Both I and II is correct.
Neither statement is correct.
The combined method of preparing a trial balance provides both totals and balances, which makes it suitable for final accounts preparation.
True
False
Short Answer Questions.
Define a Journal.
What do you understand by Ledger?
Is cash book a journal or a ledger?
What is two column cash book?
What are contra entries?
Explain three column cash book.
What is a petty cash book?
“A trial balance is merely a proof of arithmetical accuracy.” Comment.
Define trial balance.
Why is trial balance prepared?
Why is a cash book considered both a journal and a ledger?
Long Answer Questions.
What is a ledger?
Distinguish between journal and ledger.
Differentiate between ledger and subsidiary books.
Explain the method of posting entries from journal to ledger.
Explain the utility of ledger.
What is a journal?
Explain the uses of a journal.
Explain the advantages of a journal.
Explain the limitations of a journal.
What is cash book?
What is the purpose of a cash book?
Explain the various types of cash books.
What is a petty cash book?
How is the petty cash book related to the main cash book?
What is a petty cash book?
Give advantages of a petty cash book?
What is a trial balance?
What are the objectives of preparing trial balance?
Explain the methods of preparing a Trial Balance. Which method do you consider to be better and why?
Describe the errors that are disclosed by a trial balance.
Is a trial balance conclusive proof of the accuracy of the books of accounts?
Explain the advantages of a trial balance.
What are the limitations of trial balance?
Why is it necessary to record transactions in a journal before posting them to a ledger? Analyse how skipping this step might impact accounting records.
The trial balance shows a difference of ₹ 5,000. How should the accountant address this discrepancy?
Project Work.
Meet the chief accountant/accounts manager of a business firm. Find out from him the accounting records/book of account maintained by the firm.
QUESTION BANK [Pages 151 - 153]
C. B. Gupta solutions for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई 12 Accounting Records QUESTION BANK [Pages 151 - 153]
What is meant by books of original entry?
A trial balance shows a mismatch between debit and credit totals. Analyse the possible reasons for this.
State the features of journal.
Is there is any need for journal?
Why is it necessary to sub-divide the journal?
State the features of a trial balance.
What are objects of a trial balance?
“Agreement of trial balance is not a conclusive proof of accuracy of accounts”, Comment.
What is the necessity of balancing ledger accounts?
A business records transactions directly in the ledger without maintaining a journal. What potential challenges might arise?
A business records transactions directly in the ledger without maintaining a journal. How could this affect financial accuracy?
Why can a trial balance not guarantee the complete accuracy of accounting records? Explain with examples of errors it might fail to detect.
Solutions for 12: Accounting Records
EXERCISESQUESTION BANK
C. B. Gupta solutions for कमर्शियल ॲप्लीकेशन [इंग्रजी] इयत्ता ९ आयसीएसई chapter 12 - Accounting Records
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