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.

This CBSE Class 11 Accountancy practice quiz has 19 multiple-choice questions on Journal Entries. Try the 5 sample questions below (tap an option to check yourself), then play the full quiz 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
   Show answer

   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
   Show answer

   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
   Show answer

   Answer: A. Debit Cash, Credit Sales

More questions in this quiz

Answers and explanations are in the full quiz.

1. Which account is debited when goods are purchased on credit?
2. When a customer pays off their debt, what should be recorded in the journal?
3. What is the purpose of recording journal entries?
4. Which of the following is a key component of a journal entry?
5. What does the journal entry for a cash sale typically include?
6. When salaries are paid, which account is debited?
7. An owner invests cash into the business. What is the journal entry?
8. What accounts are affected when a business receives cash for service rendered?
9. Which account is debited when cash is received from a debtor?
10. What type of account is the 'Sales' account?
11. If a payment is made for rent expense in cash, which journal entry is correct?
12. What is the journal entry for an owner’s investment in the business?
13. Which of the following best describes the term 'posting' in accounting?
14. When goods are purchased for resale, which accounts are usually affected?

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