Which of the following is NOT a subsidiary book? MCQ with Answer and Explanation

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Which of the following is NOT a subsidiary book?

A. Cash book

B. Purchase book

C. Journal proper

D. Trial balance

Answer: Option D

Solution (By JKSSB Mock Tests)

Trial balance is a statement, not a book of original entry. Subsidiary books include cash book, purchase book, sales book, journal proper, etc.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

The 'Statement of Affairs' under single entry is similar to:

A. Cash Flow Statement

B. Balance Sheet

C. Profit and Loss Account

D. Trading Account

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Correct Answer: Option B

Explanation:
Statement of affairs shows assets and liabilities, akin to a balance sheet.

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Question #2

Cash Flow Statement as per AS 3 classifies activities into:

A. Direct and Indirect

B. Operating, Investing, and Financing

C. Revenue and Capital

D. Current and Non-current

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Correct Answer: Option B

Explanation:
AS 3 requires classification into operating, investing, and financing activities.

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Question #3

S1: Under GST, the 'Input Tax Credit' (ITC) on goods lost, stolen, destroyed, or written off is not available. S2: ITC on goods used for personal consumption is fully available. Which statement(s) is/are correct?

A. Neither S1 nor S2

B. S1 only

C. Both S1 and S2

D. S2 only

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Correct Answer: Option B

Explanation:
S1 is correct as per Section 17(5) of the CGST Act; ITC is blocked for lost, stolen, destroyed, or written-off goods. S2 is incorrect because ITC is explicitly blocked for goods used for personal consumption.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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