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JAIIB AFM Unit 9 — Operational Aspects of Accounting Entries: Free MCQs with Explanations

By Swarnakshi Jha (ex-banker) · Updated 20 September 2026 · Paper 3 of the November 2026 cycle (28 November 2026)

This page is a free slice of our JAIIB AFM question bank for Unit 9 — Operational Aspects of Accounting Entries (Module A — Basic Accounting and Finance). The Mock Centre holds 38 questions on this unit alone, every one with a why-right / why-wrong explanation; below are the facts examiners keep returning to, five of those questions to try, and the traps that cost marks.

AFM · Module A38 MCQs in the Mock Centre5 free belowPaper on 28 November 2026

Key facts examiners test from this unit

  1. Bank order is reversed: ledger (voucher posting) first, journal/day book later; less emphasis on prime-entry books.
  2. Voucher → subsidiary ledger → summary sheet → GL control account; GL trial balance DAILY; personal-ledger TB FORTNIGHTLY ('Balancing of Books').
  3. Two transaction kinds: cash and transfer (non-cash); transfers may involve customer or internal accounts.

5 free practice questions — tap an option

Five basic questions from this unit. Answers lock on the first tap, exactly as in the exam, and a short explanation opens underneath. The Mock Centre adds the moderate and tough questions, why every other option is wrong, the concept capsule and the exam tip — with your score and revision dates tracked.

Question 1 of 5
The ultimate objective of recording financial transactions is to:
Why (b): Every business records transactions so that the BALANCE SHEET and P&L can be prepared — the full picture for stakeholders.
Question 2 of 5
Under 'voucher posting', the vouchers are:
Why (b): Voucher posting: vouchers go STRAIGHT into the individual accounts in the subsidiary ledgers; summary sheets and GL follow at day-end.
Question 3 of 5
Transactions in a bank are of which kinds?
Why (b): Two kinds: CASH and NON-CASH (TRANSFER) — transfers may touch customer or internal accounts.
Question 4 of 5
The personal ledger trial balance is agreed with:
Why (b): The personal-ledger TB is agreed with the GENERAL LEDGER CONTROL ACCOUNTS — subsidiary total must equal control balance.
Question 5 of 5
In a computerised bank accounting system, the stated flow is:
Why (a): Staff enter → official authenticates → system completes (summaries, GL, reports). In the manual era, each entry rested on a physical voucher authenticated by an authorised officer.
0 of 5 answered.

Traps in this unit

Confusable AConfusable BThe difference
Ordinary business orderBank orderJournal first → ledger vs ledger (voucher) first → day book
GL trial balancePersonal-ledger trial balanceDAILY vs fortnightly (Balancing of Books)
Practise all 38 questions on Unit 9. The free demo opens a slice of every subject with the same explanations; the AFM Online-only pass unlocks all 1,681 AFM questions, the full and module mocks, Smart Revision and the Readiness Score for one year (₹1,299). Not sure where you stand? Take the free 10-question test first.
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← Unit 8: Bills of Exchange · Unit 10: Back Office Functions and Handling Unreconciled Entries in Banks → · All AFM units · JAIIB 2026 guide

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Independent study aid — not affiliated with, endorsed by, or sponsored by the Indian Institute of Banking & Finance (IIBF). Exam pattern, dates, fees and passing criteria are set by IIBF — always confirm the current rules at iibf.org.in. Regulatory figures verified as of September 2026; verify from official sources before relying on them in practice.