Intro to Accounting Chapter 2 MCQs | Sir Dawood Shahid ita Assignment Solution | #YahyatheAspirant

Intro to Accounting Chapter 2 MCQs | Sir Dawood Shahid ita | ISir Dawood Assignment ita | PRC | CA ‪@AccountsWithYahya‬ #YahyatheAspirant Here is the Second Chapter assignment of Sir Dawood Shahid with Solution for intro to accounting for August 2023. Contact at : 03167213520 for pdf of this assignment... Do a subscribe for 3rd chapter Solution Good luck! Stay blessed ! Questions : (1)... What is the definition of trade discount? (2)... Which TWO of the following are other names of cash discount? (3)... What is third column in three column cash book? (4)... The books of prime entry are best defined as those in which (5)... Which of the following is not a source document? (6)... Maaz return goods to Saad which he bought on credit. How is this recorded in Saad’s books? (7)... Maaz return goods to Saad which he bought on credit. How is this recorded in Maaz’s books? (8)... In which book of prime entry drawings is initially recorded? (9)... What is the entry of discount allowed? (10) ... Discount received is recognised as: (11)... If we issue amount to replenish petty cash book, then it is recorded in (12)... A transection not recorded in any other books of original entry is recorded in: (13)... Match each of the following transection with appropriate book of prime entry (14) ... Which of the following document would require a double entry? (15) ... Which TWO of the following would be recorded in General journal? (16) ... On 1 June 2022 goods were sold on credit for Rs 800,000 with credit terms of 1/10 n/30. On 8 June 2022 goods of Rs 100,000 were returned by the buyer. How much should the seller expect to receive if the buyer pays on 8 June 2022? (17) ... On 1 June 2022 goods were sold on credit for Rs 800,000 with credit terms of 1/10 n/30. On 8 June 2022 goods of Rs 100,000 were returned by the buyer. How much should the seller expect to receive if the buyer pays on 8 June 2022? (18) ... On 1 June 2022 goods were sold on credit for Rs 800,000 with credit terms of 1/10 n/30. How much should the seller expect to receive if the buyer pays on 8 June 2022? (19) ... On 4 August 2022 goods were sold on credit for Rs. 125,000 with credit term of 3/10, n/20. On 8 August 2022 goods of Rs. 25,000 were returned by the buyer. How much should the seller expect to receive if the buyer pays on 12 August 2022 (20) ... A business is offering a settlement discount to customers. In which TWO of the following situations, the revenue is required to be recorded at the full amount at the time sale? (21) ... The funds of petty cash book are recorded in (22) ... Payment of expenses from petty cash fund are recorded in (23) ... Replenishment in petty cash fund is recorded in (24) ... sales are recorded in? (25) ... If we issue amount to replenish petty cash book, then it is recorded in. ...? ‪@crescentlahore‬ ‪@AccountsWithYahya‬ ‪@khanacademy‬ ‪@CFE.College‬ #Sirdawoodshahid #prc #ca #accounting #education #knowledge #bba #accounting #debitcredit