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Standard XI
Accountancy
Question

Journal proper is issued to record __________.
  1. All purchases of goods
  2. All sales of goods
  3. All business expenses paid in cash
  4. All adjusting and rectification entries

A
All purchases of goods
B
All business expenses paid in cash
C
All sales of goods
D
All adjusting and rectification entries
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Solution
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A book maintained to record transactions, which do not find place in special journals, is known as journal proper. In order to update ledger account on accrual basis such adjusting entries are made at the end of the accounting period. such as rent outstanding, prepaid insurance, depreciation and commission received in advance. To rectify errors in recording transactions in the books of original entry and their posting to ledger accounts this journal is used.

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