| 1 |
A cash account always shows |
- A. Debit balance
- B. Credit balance
- C. Both debit and credit balance
- D. Nil balance
|
| 2 |
When cash is withdrawn from the bank for the personal use of the owner, must be debited to |
- A. Cash account
- B. Bank account
- C. Drawings account
- D. Capital account
|
| 3 |
The favorable balance of bank statement is |
- A. Credit balance
- B. Debit balance
- C. Zero balance
- D. All of these
|
| 4 |
A double column cash book is used to record |
- A. Cash transactions only
- B. Cash and bank transaction
- C. Cash, bank and discount transaction
- D. None of these
|
| 5 |
All cash purchases and cash sales are recorded in |
- A. Cash book
- B. Purchases book
- C. Sales book
- D. Purchases and sales book
|
| 6 |
Bank reconciliation statement is prepared by |
- A. Banker
- B. Customer's accountant
- C. Auditors
- D. Manager
|
| 7 |
The book in which all cash transaction are primarily recorded is called |
- A. Pass book
- B. Cheque book
- C. Finance book
- D. Cash book
|
| 8 |
paid to Nadeem cash Rs. 5000 and a cheque for Rs. 4800 in full settlement of his dued Rs. 10000 should be credited to |
- A. Cash account
- B. Bank account
- C. Discount received account
- D. All of these
|
| 9 |
When cheque received, and deposited into bank, bank account must be |
- A. Credited
- B. Debited
- C. Both debited & credited
- D. None of these
|
| 10 |
Cash account is a |
- A. Personal account
- B. Nominal account
- C. Real account
- D. Both personal and real account
|
