621. A brief explanation recorded below every entry in the general journal is commonly known as__________?
A: Narration
B: Explanation
C: Summary
D: Other information
622. Credit purchase of plant and machinery is recorded in which of the following journals?
A: General journal
B: Cash journal
C: Purchase journal
D: Purchase return journal
623. Debit note is the basis for recording a transaction in which of the following journals?
A: General journal
B: Cash journal
C: Purchase journal
D: Purchase return journal
624. SALE of old furniture will be recorded in which of the following specialized journals?
A: Purchase journal
B: Sales journal
C: General journal
D: Cash receipt journal
625. Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?
A: Purchase journal
B: Sales return journal
C: General journal
D: Cash receipt journal
626. Which of the following accounts with a normal balance is shown at the debit side of a trial balance?
A: Rent income account
B: Creditors account
C: Unearned income account
D: Cash account
627. In a job cost system, costs are accumulated:
A. By a specific Job
B. By Department Process
C. By the Kind of Material used
D. On A monthly basis
628. The principal factors to be considered in designing a cost system include:
A. Manufacturing process
B. Desires of management
C. Nature of business
D. Company organization structure
E. All of the above
629. The most suitable cost system -where the products differ in the type of materials used and work performed is:
A. Job costing
B. Operating costing
C. Process costing
D. None of these
630. In shoe manufacture, the most suitable cost system is:
A. Job costing
B. Contract costing
C. Batch Costing
D. None of these
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