Accounting Mcqs

Page No. 36

A cash book that is used to record the small payments of cash is generally referred as_________?


aSimple cash book

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bTwo column cash book

✖


cThree column cash book

✖


dPetty cash book

✓


View Answer Petty cash book

Postage stamps on hand are considered as_________?


aBank

✖


bPrepaid expenses

✓


cAccounts receivable

✖


dCreditor

✖


View Answer Prepaid expenses

Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?


aReceipts

✖


bPayments

✓


cPayments

✖


dExpenditures

✖


View Answer Payments

A simple or one column cash book usually has which of the following main columns?


aBank

✖


bPayments

✖


cDiscount

✖


dCash

✓


View Answer Cash

Cash book with cash and discount column is mostly referred as________?


aSimple cash book

✖


bTwo column cash book

✓


cThree column cash book

✖


d Petty cash book

✖


View Answer Two column cash book

Which of the following is generally not the party to a check?


aPayee

✖


bPayer

✖


cBank

✖


dSeller

✓


View Answer Seller

Postdated checks are considered as__________?


aCash

✖


bBank balance

✖


cAccounts receivable

✓


dCash reserve

✖


View Answer Accounts receivable

Petty cash fund is supposed to be replenished?


aEvery day

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bEvery half year

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cEvery year

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dAt the end of every accounting period

✓



A credit balance in cash book indicates?


aBank balance

✖


bCash at bank

✖


cBank overdraft

✓


dBank underdraft

✖


View Answer Bank overdraft

The closing balance of petty cash book is considered as_________?


aLiability

✖


bAsset

✓


cExpenses

✖


dIncome

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View Answer Asset

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