Question # 1

Retiring a bill under rebate means:

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Making payment for the bill before the due date

Making payment for the bill after the due date

Dishonouring bill

None of the above

Contra Refers to

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Same Side

Parallel Side

Opposite Side

None of these

The most exhaustive cash book is

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Petty Cash Book

Single Column Cash Book

Double Column Cash Book

Treble Column Cash Book

In accounting all business transactions are recorded which have:

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Dual aspect

Single aspect

None of the above

Economic aspect

Bank Reconciliation represents

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A Journal

A Ledger

A Statement

both a and c

When ban column of a cash book shows a debit balance it means:

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Overdraft as per bank

Unfavourable balance as per cash book

Favourable balance as per cash book

Favourable balance as per pass book

Pass book is prepared by

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Debtor

Creditor

Banker

Customer

The cash book is a

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Subsidiary Journal

Ledger Account

Subsidiary Journal and Ledger

Trial Balance

Book used to record petty expenses and receipts

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Single Column Cash Book

Petty Cash Book

Double Column Cash Book

Treble Column Cash Book

Credit Balance of pass book must be equal to debit balance of

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Cash Book

Bank Ledger

Clients other Account

None of these

When boan statement shown a debit total balance it means:

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Overdraft as per cash book

Unfavourable balance as per cash book

Favourable balance as per cash book

Overdraft as per bank statement

Cash account is concerned with:

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Real account

Personal account

Nominal account

Capital account

All the direct expenses are charged to:

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Balance sheet

Profit and loss account

Trading account

None of these

Unfavourable balance means

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Credit Balance in the Pass Book

Credit Balance in the Cash Book

Debit Balance in Bank Statement

Both b and c

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

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Cheque Book

Pass Book

Cash Book

Finance Book

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Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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