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

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

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Question # 2

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

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Question # 3

The money can be deposited into bank by means of

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Cash book

Cheque book

Pay-in-slip book

Pass book

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Question # 4

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

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Question # 5

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

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Question # 6

Bank reconciliation statement is prepared by

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Banker

Customer's accountant

Auditors

Manager

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Question # 7

Our cheque to Ali & Bros, returned dishonored should be credited to

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Cheque account

Cash account

Bank account

Ali & Bros account

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Question # 8

When money is paid to a creditor or supplier a receipt is obtained from him which is called

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Cash voucher

Cash payment

Receipt voucher

Payment voucher

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Question # 9

When cash is received from debtor or customer, generally a receipt is issued to the debtor which is called

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Payment voucher

Receipt voucher

Cash voucher

None of these

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Question # 10

A cash account always shows

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Debit balance

Credit balance

Both debit and credit balance

Nil balance

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Question # 11

.The cash book is a

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Subsidiary journal

Ledger account

Subsidiary journal and ledger

Trial balance

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