NCERT Class 11 Financial Accounting-I Chapter 4 – English Medium | Class 11 Financial Accounting-I “Recording of Transactions-II” Solution in English |

Chapter : 4

Recording of Transactions-II

Questions For Practice

Short Answers

1. Briefly state how the cash book is both journal and a ledger.

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2. What is the purpose of contra entry?

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3. What are special purpose books? Ans:
4. What is petty cash book? How it is prepared?

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5. Explain the meaning of posting of journal entries?

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6. Define the purpose of maintaining subsidiary journal.

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7. Write the difference between return Inwards and return ouwards.

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8. What do you understand by ledger folio?

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9. What is difference between trade discount and cash discount? Ans:
10. Write the process of preparing ledger from a journal.

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11. What do you understand by Imprest amount in petty cash book?

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Long Answers

1. Explain the need for drawing up the special purpose books.

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2. What is cash book? Explain the types of cash book.

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3. What is contra entry? How can you deal this entry while preparing double column cash book?

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4. What is petty cash book? Write the advantages of petty cash book?

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5. Describe the advantages of sub-dividing the Journal.

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6. What do you understand by balancing of account?

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