Accounting - Study Mode

[#2096] Transactions that a business does not record in any specialized journal are recorded in which of the following books?
Correct Answer

(D) General journal

Explanation

Solution: Transactions that a business does not record in any specialized journal are recorded in General journal.

[#2097] Which of the following specialized journal records "goods returned by the business"?
Correct Answer

(C) Purchase return journal

Explanation

Solution: Purchase return journal records "goods returned by the business". The Purchases Returns Book is written up from the credit notes received from the suppliers.

[#2098] Sales and purchase journal doesn't record
Correct Answer

(D) Cash sales and purchases

Explanation

Solution: Sales and purchase journal doesn't record Cash sales and purchases.

[#2099] Cash received from debtor is recorded in which of the following specialized journals?
Correct Answer

(C) Cash receipts journal

Explanation

Solution: Cash received from debtor is recorded in Cash receipts journal. The cash receipts journal is a special journal used to record cash received by a business.

[#2100] Any expenditure incurred in order to reduce the operating expenses is . . . . . . . .
Correct Answer

(A) capital expenditure