Question # 1

An Entry which is recorded on the both sides of cash book is called

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Simple Entry

Compound Entry

Combined Entry

Contra Entry

The balance of petty cash book is a/an

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Asset

Liability

Expense

Income

Book used to record petty expenses and receipts

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Single Column Cash Book

Petty Cash Book

Double Column Cash Book

Treble Column Cash Book

Bank reconciliation statement is prepared by

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Banker

Customers Accountant

Auditor

Manager

Retiring a bill under rebate means:

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Making payment for the bill before the due date

Making payment for the bill after the due date

Dishonouring bill

None of the above

Credit Balance of pass book must be equal to debit balance of

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Cash Book

Bank Ledger

Clients other Account

None of these

All the time of endorsement of a bill the drawer credits:

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The drawee account

The endorser's personal account

Bill receivable account

Endorser's account

Petty cash book is a branch of

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Pass Book

Cash Book

Journal

Ledger

A cash account always shows

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Debit Balance

Credit Balance

Both a and b

Nil Balance

When boan statement shown a debit total balance it means:

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Overdraft as per cash book

Unfavourable balance as per cash book

Favourable balance as per cash book

Overdraft as per bank statement

The rules of the debiting the receiving and crediting the giver is applicable to:

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Persona account

Real account

Nominal account

Expense account

Which column is prepared in single column cash book?

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Bank Column

Cash Column

Discount Column

All of the Above

Contra Refers to

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Same Side

Parallel Side

Opposite Side

None of these

Bank Reconciliation represents

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A Journal

A Ledger

A Statement

both a and c

Our cheque to Babar & Bros, returned dishonoured should be credited to

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Cheque Account

Cash Account

Bank Account

Babar & Bros A/c

The book in which all cash transactions are primarily recorded is called

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Cheque Book

Pass Book

Cash Book

Finance Book

When ban column of a cash book shows a debit balance it means:

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Overdraft as per bank

Unfavourable balance as per cash book

Favourable balance as per cash book

Favourable balance as per pass book

The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called:

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Receipt voucher

Payment voucher

Cash voucher

Cash memo

Cash account is concerned with:

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Real account

Personal account

Nominal account

Capital account

In journalizing the page numbers of the ledgers are written in:

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The first column of journal

The second column of journal

The third column of journal

The fourth column of journal

Cheques issued to a creditor but not presented for payment are called

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Un Credited Cheques

Uncollected Cheques

Un Presented Cheques

Dishonoured Cheques

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Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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