JSS 1 Business Studies Flashcards: Meaning, Uses and Types of Journals in Book-keeping

Question 1

Transactions are first recorded from source documents in a book of original entry called the ____.

Accepted Answer

journal

Question 2

A journal lists 3 June before 7 June and 7 June before 12 June. This arrangement follows ____.

Accepted Answer

chronological order

Question 3

Before entering a credit sale, the bookkeeper should inspect the relevant ____.

Accepted Answer

source document

Question 4

Goods are sold on credit to Musa Stores. In which book of original entry is the transaction recorded? Choose from: sales journal, purchases journal, cash book, or purchases returns journal.

Accepted Answer

sales journal

Question 5

A boutique obtains clothes on credit for resale. Name the journal for the entry.

Accepted Answer

purchases journal

Question 6

A customer sends back goods previously bought on credit. The return belongs in the ____.

Accepted Answer

sales returns journal

Question 7

The business returns faulty goods bought on credit to its supplier. Record this in the ____.

Accepted Answer

purchases returns journal

Question 8

Cash sales, cash purchases and bank payments are recorded in the ____.

Accepted Answer

cash book

Question 9

A transaction cannot fit any special journal. Where should it be entered?

Accepted Answer

general journal

Question 10

To find when an entry occurred, read the journal's ____.

Accepted Answer

date column

Question 11

The account name and short description belong in the ____.

Accepted Answer

details column

Question 12

A reference such as L12 directs the reader to another book or account. It appears in the ____.

Accepted Answer

folio column

Question 13

The naira value of a journal entry is placed in the ____.

Accepted Answer

amount column

Question 14

After a general-journal entry, a short sentence explains why it was made. This explanation is the ____.

Accepted Answer

narration

Question 15

Goods leave the shop today, but the customer will pay next month. Classify the transaction.

Accepted Answer

credit sale

Question 16

A retailer receives stock today and agrees to pay the supplier later. This is a ____.

Accepted Answer

credit purchase

Question 17

After journalising, entries are transferred to individual ledger accounts. Name this process.

Accepted Answer

posting

Question 18

The invoice says ₦24,500 and the journal also shows ₦24,500. This comparison is an ____.

Accepted Answer

accuracy check

Question 19

Entering transactions at the end of each working day helps prevent omissions. Name the practice.

Accepted Answer

daily recording

Question 20

What arrangement makes frequent sales and purchases easier to organise?

Accepted Answer

separate journals

Strong work.

Leave this flashcard session?