Practice mode / Cash Book A cash book with cash, bank and discount column is commonly referred as? A Option A: Cash book B Option B: Two columns cash book C Option C: Three columns cash book D Option D: Petty cash book Correct answer C. Three columns cash book Show answer
Question 01 / Cash Book Which of the following statements is true? A Option A: A sale of an asset is recorded in the Sales Book. B Option B: The total of the Returns Outward Book is debited to the Returns Outward Account. C Option C: The balance of the Petty Cash Book is a liability. D Option D: The Cash Book is a subsidiary book as well as a ledger. Correct answer D. The Cash Book is a subsidiary book as well as a ledger. Show answer Open question
Question 02 / Cash Book An entry which is made on both sides of a cash book is called? A Option A: Cash entry B Option B: Contra entry C Option C: Payment entry D Option D: Compound entry Correct answer B. Contra entry Show answer Open question
Question 03 / Cash Book A cash book records: A Option A: Cash payments only B Option B: Cash receipts only C Option C: Both cash receipts and cash payments D Option D: Neither cash payments nor cash receipts Correct answer C. Both cash receipts and cash payments Show answer Open question
Question 04 / Cash Book Cash book is prepared by? A Option A: Bank B Option B: Accountant of business C Option C: Manager of a company D Option D: Bank’s cashier Correct answer B. Accountant of business Show answer Open question
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