The primary purpose of a cashbook is to record cash transactions occurring in a business organisation. It acts both as a journal and a ledger for cash inflows and outflows. A cashbook follows the dual entry accounting system, and it is also an alternative to a cash account. Show We have compiled a list of multiple-choice questions and answers on cashbook to help students get a grip on this topic:
Answer: b Answer: a Answer: a Answer: b Answer: d Answer: d Answer: d Answer: b Answer: a Answer: a Answer: a Answer: b Answer: d Answer: a Answer: d Answer: a Answer: c Answer: b Answer: c Answer: d Answer: a Answer: c Answer: b Answer: a Answer: d Also See:
What are the 3 types of cash book?There are three common types of cash books: single column, double column, and triple column.
What type of account is petty cash quizlet?Explanation: The Petty Cash account is an asset account that appears on the balance sheet. The entry to replenish a petty cash fund includes a: debits to various expense accounts and a credit to Cash.
What is petty cash used for quizlet?The petty cash fund is a special fund set up to pay for minor expenses with cash instead of paying by cheque (e.g. tea and coffee, fares, stamps). It is always replenished to the imprest amount.
Which of the following are internal controls related to cash receipt?Explanation: A basic internal control procedure is to deposit all cash receipts in the bank shortly after the cash is received. It is common for company's to deposit cash receipts on a daily basis. They need to record them in the accounting system and then take them to the bank.
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