Question # 1

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

A cash account always shows

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Debit balance

Credit balance

Both debit and credit balance

Nil balance

Cash account is a

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Personal account

Nominal account

Real account

Both personal and real account

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

The money can be deposited into bank by means of

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Cash book

Cheque book

Pay-in-slip book

Pass book

paid to Nadeem cash Rs. 5000 and a cheque for Rs. 4800 in full settlement of his dued Rs. 10000 should be credited to

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Cash account

Bank account

Discount received account

All of these

It is used to record only cash receipts and payments

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Single column cash book

Double column cash book

Treble column cash book

Sales book

A double column cash book is used to record

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Cash transactions only

Cash and bank transaction

Cash, bank and discount transaction

None of these

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 cash book is a

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Subsidiary journal

Ledger account

Subsidiary journal and ledger

Trial balance

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

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

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