Question # 1

The most exhaustive cash book is

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Petty Cash Book

Single Column Cash Book

Double Column Cash Book

Treble Column Cash Book

In accounting all business transactions are recorded which have:

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Dual aspect

Single aspect

None of the above

Economic aspect

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

The balance of petty cash book is a/an

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Asset

Liability

Expense

Income

When saleable goods are bought in a business are called:

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Sales

Purchase

Assets

Goods

Discount deducted from the catalogue or list price is called:

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Trade discount

Cash discount

Catalogue discount

Credit discount

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

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

Unfavourable balance means

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Credit Balance in the Pass Book

Credit Balance in the Cash Book

Debit Balance in Bank Statement

Both b and c

The owner of the business is known as:

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Sale man

Agent

Proprietor

Employee

Bank Reconciliation represents

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A Journal

A Ledger

A Statement

both a and c

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

Cash account is concerned with:

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Real account

Personal account

Nominal account

Capital account

A cash account always shows

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Debit Balance

Credit Balance

Both a and b

Nil Balance

How many columns are drawn on one side of three column cash book ?

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Five Columns

Six Columns

Seven Columns

Eight Columns

All the direct expenses are charged to:

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Balance sheet

Profit and loss account

Trading account

None of these

Which column is prepared in single column cash book?

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Bank Column

Cash Column

Discount Column

All of the Above

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

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

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