Journal Entries Quiz - CBSE Class 11 Accountancy

Free practice quiz: Journal Entries (CBSE Class 11 Accountancy). 19 multiple-choice questions with answers and explanations. Play online, no sign-up needed.

Sample questions

1. What is a journal entry in accounting?

   1. A record of financial transactions
   2. A type of financial report
   3. An overview of income and expenses
   4. A summary of bank statements
   Show answer

   Answer: A. A record of financial transactions

2. If a company declares dividends, which accounts are affected in the journal entry?

   1. Debit Retained Earnings, Credit Dividends Payable
   2. Credit Cash, Debit Retained Earnings
   3. Debit Dividends Payable, Credit Cash
   4. Debit Cash, Credit Income
   Show answer

   Answer: A. Debit Retained Earnings, Credit Dividends Payable

3. Which account is credited when goods are sold for cash?

   1. Cash Account
   2. Sales Account
   3. Inventory Account
   4. Accounts Receivable Account
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   Answer: B. Sales Account

4. What is the purpose of a journal in accounting?

   1. To record all transactions
   2. To summarize financial statements
   3. To calculate profits and losses
   4. To list bank balances
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   Answer: A. To record all transactions

5. Identify the correct journal entry when a business sells goods for cash.

   1. Debit Cash, Credit Sales
   2. Debit Sales, Credit Cash
   3. Debit Cash, Credit Inventory
   4. Debit Sales, Credit Inventory
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   Answer: A. Debit Cash, Credit Sales

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