Discount received is recorded on which of the following side of a cash book?
(A) Receipts
(B) Payments
(C) Incomes
(D) Expenditures
Cash book is prepared by____________?
(A) Bank
(B) Accountant of business
(C) Manager of a company
(D) Bank’s cashier
Cash book records:______________?
(A) Cash payments
(B) Cash receipts
(C) Cash payments and cash receipts
(D) Neither cash payments nor cash receipts
An entry which is made on both sides of a cash book is called__________?
(A) Cash entry
(B) Contra entry
(C) Payment entry
(D) Compound entry
$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
(A) $5000 will be credited
(B) $5000 will be debited
(C) $10,000 will be credited
(D) $10,000 will be debited
A cash book with cash, bank and discount column is commonly referred as________?
(A) Cash book
(B) Two columns cash book
(C) Three columns cash book
(D) Petty cash book
Introduction capital by owner of business is recorded on which side of a cash book?
(A) Receipts
(B) Payments
(C) Incomes
(D) Expenditures
Cash discount is allowed on _______ repayment of debt.
(A) Lump sum
(B) Prompt
(C) Actual
(D) None of them
Payment of rent expenses is recorded on which side of cash book?
(A) Receipts
(B) Payments
(C) Income
(D) Expense
Drawings by owner of business are generally recorded on which of the following side of a cash book?
(A) Receipts
(B) Payments
(C) Incomes
(D) Expenditures