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Cash Book Objectives

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Cash Book

01. Bank Column on receipt side of cash book shows total of Rs.100, 000 while Bank column on payment side shows total of Rs.80, 000 which means?

a) Bank Overdraft of Rs.20, 000 b) Bank Balance of Rs.100, 000 b) Bank Balance of rs.20, 000 d) Bank Overdraft of Rs.80, 000

02. Bank Column on receipt side of cash Book shows total of Rs.90, 000, which mean? a) Bank Overdraft of Rs.60, 000

b) Bank balance of Rs.60, 000 c) Bank Balance of Rs.90, 000 d) Bank Overdraft of Rs.150, 000

03. Which of the following discount is given on prompt payment? a) Trade discount

b) Quantity discount c) Cash discount d) None of above

04. All cash receipts and payment are recorded in? a) General journal

b) Sales journal c) Cash book d) Pass book

05. Which of the following columns of cash book are balanced at month end? a) Cash column and Sales discount column

b) Bank Column and Purchase discount column c) Cash Column and Purchase discount column d) Cash column and Bank column

06. Cash discount is received on? a) Cash Purchase

b) Credit Sales c) Credit Purchase d) All of above

07. Which of the following is correct? a) Purchase discount is an expect account

b) All receipt and payment are recorded in Sales journal c) Cash discount is given on Cash sales

d) All bank transactions are entered in bank column of cash book

08. Bank Column on receipt side of Cash Book shows total of Rs.350, 000 while Bank column on payment side shows total of Rs.400, 000, which means?

a) Bank Overdraft of Rs.50, 000 b) Bank balance of Rs.50, 000 c) Bank Balance of Rs.350, 000 d) Bank Overdraft of Rs.400, 000

09. Which of the following columns of cash book are totaled and not balanced at month end? a) Cash column and Bank column

b) Purchase discount column & Sales discount column c) Cash column and purchase discount column

d) Cash column and sales discount column

10. Bank Column on receipt side of Cash Book shows total of RS.650, 000 while bank Column on Payment side shows total of Rs.780, 000, which means?

a) Bank Overdraft of Rs.90, 000 b) Bank balance of Rs.160, 000 c) Bank Balance of Rs.100, 000 d) Bank Overdraft of Rs.130, 000

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11. The balance of bank column of Cash Book? a) Always show debit balance

b) Always show credit

c) May show debit or credit balance d) None of above

12. Which of the following is contra entry?

a) Owner invested cash into business

b) Owner withdrew cash from bank for personal use c) Cash deposited into bank

d) Cheque received and deposited into bank on same day

13. Discount on list price or catalogue price is known as?

a) Sales discount

b) Early settlement discount c) Purchase discount d) Trade discount

14. Cash column on receipt side of cash book shows total of Rs.250, 000 while Cash Column on payment side shows total Rs.100, 000, which means?

a) Cash on hand Rs.250, 000 b) Cash on hand Rs.100, 000 c) Cash on hand Rs.150, 000

d) Payment side is more than receipt side by Rs.150, 000

15. Cash Column on receipt side of Cash Book shows total of Rs.500, 000 while Cash Column on payment side shows total of Rs.450, 000, which means?

a) Cash on hand Rs.50, 000 b) Cash on hand Rs.450, 000 c) Cash on hand Rs.500, 000

d) Payment side is more than receipt side by Rs.50, 000

16. Two column cash book shows records of?

a) Both cash & Credit transactions b) All cash transactions

c) Cash & Bank transactions

d) Cash, Bank & Discount transactions

17. The Cash Book is?

a) Ledger

b) Subsidiary Journal c) Statement

d) Financial Statement

18. Cash Column on receipt side of Cash Book Shows total of Rs.90, 000 while Cash on payment side shows total of Rs.960, 000, which means?

a) Cash on hand Rs.60, 000

b) We have paid Rs.60, 000 more than what we received c) We have made an error

d) None of above

19. Cash Column on receipt side of Cash book shows total of rs.700, 000 while Cash Column on payment side shows total of Rs.80, 000, which mean?

a) Cash on hand Rs.100, 000 b) We have paid Rs.100, 000 more than what we received c) We have made an error

d) None of above

20. Cash Book maintains records about?

a) All receipt only b) All payments only

c) All types of sales and purchases d) All receipt and payments

21. Contra entry is appeared on both sides of?

a) Petty Cash Book b) General Journal c) Sales Journal d) Cash Book

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22. Which of the following is a contra entry? a) Cash is deposited into bank

b) Cash is withdrew from bank for office use c) Cheque deposited into bank on any future data d) All of the above

23. Three column cash book shows records of?

a) All cash & credit transactions b) All cash transactions

c) Cash & Bank transactions

d) Cash. Bank & Discount transactions

24. Discount received on early or prompt payment is called? a) Sales discount

b) Trade discount c) Purchase discount d) Quantity discount

25. Debit balance on bank column of cash book shows? a) Bank Overdraft

b) Cash on hand c) Cash at bank

d) Total deposits into bank

26. When an entry is entered on both receipt and payment side of a cash book, then it

is called? a) Compound Entry

b) Combined Entry c) Contra Entry d) Closing Entry

27. Single column Cash book shows record of?

a) All credit transactions b) All cash transactions c) Cash & Bank transactions

d) Cash, Bank & Discount transactions

28. On collection from customers, which of the following is issued to customers? a) Invoices

b) Debit memo c) Receipt vouchers d) Payment vouchers

29. Which of the following best describes a contra entry? a) Entry which is entered in Sales Journal

b) Entry which is entered in receipt side of Cash Book c) Entry which is entered in payment side of cash Book

d) Entry which is entered in both receipt and payment side of Cash Book 30. Bank column of cash book shows a credit balance of Rs.25, 000 how is the balance

Sheet? a) As a current asset

b) As a current liability c) As a fixed asset d) As a capital

31. Bank column of Cash book shows a debit balance of Rs.80, 000 how is this shown in the balance sheet? a) As a current asset

b) As a current liability c) As a fixed asset d) As a capital

32. Purchase discount is shown on? a) Receipt side of Cash Book

b) Payment side of Cash Book c) Petty Cash Book

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33. On payment to suppliers, a receipt is obtained from him which is called? a) Debit memo

b) Invoice

c) Payment voucher d) Receipt voucher

34. A cheque received from a customer and not deposited into bank on same day will be

Entered on? a) Cash column of payment side

b)

Bank column of receipt side c) Bank column of payment side d) Bank column of receipt side 35. Which of the following is a contra entry?

a) Drawing of owner from bank

b) Cheque received and deposited into bank on same day c) Salaries paid by cheque

d) None of above

36. Cash column can have?

a) Credit balance only b) Debit balance only

c) Both debit and credit balance d) None of above

37. Cash discount is given on?

a) Cash purchase

b) Credit Sales c) Credit purchase

d) All of above 38. Cash sales is recorded in? a) Pass Book

b) Petty Cash Book c) Sales Journal d) Cash Book

39. A credit balance of Rs.5, 000 on bank column of cash Book indicates? a) Bank balance of Rs.5, 000

b) Bank Overdraft of Rs.5, 000

c) Total withdrew from bank during the month d) Total deposits into bank during the month

40. Discount received on early payment is called?

a) Purchase discount b) Quantity discount c) Sales discount d) Trade discount

41. In preparing Cash Book ''C'' is written in P/R column for? a) Compound Entry

b) Contra Entry c) Combined Entry d) Closing Entry

42. Sales discount is allowed only if?

a) Payment is made within discount period b) Merchandise are sold on cash

c) Merchandise are sold either on cash or credit d) Merchandise are sold in bulk quantities

43. Sales discount column is shown on?

a) Receipt side of Cash Book b) Payment side of Cash Book c) Petty Cash Book

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44. Cash discount is received on? a) Cash Sales

b) Credit Purchase c) Credit Sales d) Cash Purchase

45. In general ledger total of discount received is posted to? a) Debit side of Purchase discount account

b) Debit side of Sales discount account c) Credit side of purchase discount account d) Credit side of sales discount

46. A credit balance of Rs.10, 000 on the bank Column of Cash Book? a) We have Rs.10, 000 cash in bank

b) We have withdrew RS.10, 000 more than our account c) Owner withdrew cash RS.10, 000 from bank for personal use d) Owner invested Rs.10, 000 into bank

47. A credit balance of Rs.5, 000 on the cash Column of Cash Book would mean? a) We have Rs.5, 000 cash in hand

b) We have spent Rs.5, 000 more than we received c) Payment are Rs.5, 000 more than receipt

d) We have made an error

48. Cash column of cash book shows Rs.10, 000 Dr balance, this means? a) We have made an error

b) We have Rs.10, 000 cash in bank c) We have Rs.10, 000 cash in bank d) Someone has stolen RS.10, 000 49. Bank overdraft means?

a) The business is wasting its money b) Having more receipt than payment

c) The business having bought too many goods

d) The business has paid more out of its bank account than it put in it

50. In the general ledger total of discount allowed is posted to? a) Debit side of Purchase discount account

b) Debit side of Sales discount account c) Credit side of Purchase discount account d) Credit side of Sales discount account

51. Which of the following can be entered on bank column of receipt side of cash book? a) Cheque issued to suppliers

b) Owner withdrew cash from bank for personal use c) Cash withdrew from bank for office use

d) Cheque received from customers and deposited into bank

ANSWERS (Cash Book)

1) c

2) b

3) c

4) c

5) d

6) c

7) b

8) a

9) b

10) d

11 c

12) c

13) d

14) c

15) a

16) c

17) b

18) c

19) c

20 d

21) d

22) d

23) d

24) c

25) c

26) c

27) b

28) c

29) d

30) b

31) a

32) b

33) c

34) d

35) d

36) b

37) b

38) d

39) b

40) a

41) b

42) a

43) a

44) b

45) c

46) b

47) d

48) c

49) d

50) b

51) d

References

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