331. General journal is a book of _______ entries?
A. First
B. Original
C. Secondary
D. Generic

332. The process of recording transactions in different journals is called_________?
A. Posting
B. Entry making
C. Adjusting
D. Journalizing

333. Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite

334. Discount allowed is a kind of deduction from_____________?
A. Account payable
B. Account receivable
C. Cash account
D. Discount account

335. The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash book

336. A journal entry in which two or more account is debited or credited is referred as____________?
A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entry

337. he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
A. 2,10
B. 10,2
C. 10,30
D. 3,15

338. Goods returned by customer should be debited to which of the following accounts?
A. Sales income account
B. Sales account
C. Return inward account
D. Expenses account

339. Discount allowed is___________?
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business

340. _________ is the evidence that a transaction took place?
A. Source documents
B. Ledger
C. Bonds
D. Journals

NOTE
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