| 1 |
Our cheque to Ali & Bros, returned dishonored should be credited to |
- A. Cheque account
- B. Cash account
- C. Bank account
- D. Ali & Bros account
|
| 2 |
Ahmed's cheque endorse to Akbar should be debited to |
- A. Cash account
- B. Cheque account
- C. Akbar's account
- D. Ahmed account
|
| 3 |
.The cash book is a |
- A. Subsidiary journal
- B. Ledger account
- C. Subsidiary journal and ledger
- D. Trial balance
|
| 4 |
When cash is withdrawn from the bank for the personal use of the owner, must be debited to |
- A. Cash account
- B. Bank account
- C. Drawings account
- D. Capital account
|
| 5 |
When money is paid to a creditor or supplier a receipt is obtained from him which is called |
- A. Cash voucher
- B. Cash payment
- C. Receipt voucher
- D. Payment voucher
|
| 6 |
Unfavorable balances mean |
- A. Credit balance in the pass book
- B. Credit balance in the cash book
- C. Debit balance in bank statement
- D. Both b & c
|
| 7 |
Received a cheque from Bilal Rs. 1900 in ful settlement of his debt Rs. 2000 should be debited to |
- A. Cash account
- B. Discount allowed account
- C. Bank account
- D. Both a & b
|
| 8 |
The favorable balance of bank statement is |
- A. Credit balance
- B. Debit balance
- C. Zero balance
- D. All of these
|
| 9 |
A document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called |
- A. Receipt voucher
- B. Cash voucher
- C. payment voucher
- D. Cash memo
|
| 10 |
Bank reconciliation statement is prepared by |
- A. Banker
- B. Customer's accountant
- C. Auditors
- D. Manager
|
