Question # 1

It is used to record cash, bank and discount transactions on debit and credit side

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Single column cash book

Petty cash book

Double column cash book

Treble column cash book

When cash is withdrawn from the bank for the personal use of the owner, must be debited to

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Cash account

Bank account

Drawings account

Capital account

All cash purchases and cash sales are recorded in

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Cash book

Purchases book

Sales book

Purchases and sales book

Received a cheque from Bilal Rs. 1900 in ful settlement of his debt Rs. 2000 should be debited to

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Cash account

Discount allowed account

Bank account

Both a & b

The money can be deposited into bank by means of

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Cash book

Cheque book

Pay-in-slip book

Pass book

.The cash book is a

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Subsidiary journal

Ledger account

Subsidiary journal and ledger

Trial balance

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

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Pass book

Cheque book

Finance book

Cash book

Unfavorable balances mean

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Credit balance in the pass book

Credit balance in the cash book

Debit balance in bank statement

Both b & c

A statement which is used to reconcile the bank balance as per cash book with the balance as per pass book is called

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Bank statement

Income statement

Bank reconciliation statement

Financial statements

When cheque received, and deposited into bank, bank account must be

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Credited

Debited

Both debited & credited

None of these

Ahmed's cheque endorse to Akbar should be debited to

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Cash account

Cheque account

Akbar's account

Ahmed account

The favorable balance of bank statement is

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Credit balance

Debit balance

Zero balance

All of these

A 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

Cash voucher

payment voucher

Cash memo

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 favorable balance of cash book bank column is

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Credit balance

Debit balance

Both debit and credit balance

None of these

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Principles of accounting Icom Part 1 English Medium Chapter 8 Online Test MCQs With Answers

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