Question # 1

An entry which is recorded on the both sides of cash book is called

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Simple entry

Compound entry

Combined entry

Contra entry

When cash is received from debtor or customer, generally a receipt is issued to the debtor which is called

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Payment voucher

Receipt voucher

Cash voucher

None of these

Bank reconciliation statement is prepared by

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Banker

Customer's accountant

Auditors

Manager

.The cash book is a

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Subsidiary journal

Ledger account

Subsidiary journal and ledger

Trial balance

Unfavorable balances mean

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Credit balance in the pass book

Credit balance in the cash book

Debit balance in bank statement

Both b & c

Ahmed's cheque endorse to Akbar should be debited to

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Cash account

Cheque account

Akbar's account

Ahmed account

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

Our cheque to Ali & Bros, returned dishonored should be credited to

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Cheque account

Cash account

Bank account

Ali & Bros account

The favorable balance of cash book bank column is

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Credit balance

Debit balance

Both debit and credit balance

None of these

A double column cash book is used to record

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Cash transactions only

Cash and bank transaction

Cash, bank and discount transaction

None of these

Received a cheque from Bilal Rs. 1900 in ful settlement of his debt Rs. 2000 should be debited to

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Cash account

Discount allowed account

Bank account

Both a & b

A cash account always shows

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Debit balance

Credit balance

Both debit and credit balance

Nil balance

The money can be deposited into bank by means of

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Cash book

Cheque book

Pay-in-slip book

Pass book

Cash account is a

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Personal account

Nominal account

Real account

Both personal and real account

When money is paid to a creditor or supplier a receipt is obtained from him which is called

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Cash voucher

Cash payment

Receipt voucher

Payment voucher

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

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