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


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


bEvery half year


cEvery year


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


View Answer Asset

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