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

Question # 1

The favorable balance of bank statement is

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Credit balance

Debit balance

Zero balance

All of these

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Question # 2

.The cash book is a

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Subsidiary journal

Ledger account

Subsidiary journal and ledger

Trial balance

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Question # 3

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

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Credited

Debited

Both debited & credited

None of these

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Question # 4

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 # 5

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 # 6

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 # 7

Ahmed's cheque endorse to Akbar should be debited to

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Cash account

Cheque account

Akbar's account

Ahmed account

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Question # 8

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

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Question # 9

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

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Pass book

Cheque book

Finance book

Cash book

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Question # 10

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

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Question # 11

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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