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Cash Book Quiz-2
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Cash Book Quiz-2
Cash Book Quiz-2
Quiz
Cash in hand A/c may have
Only credit balance.
Only debit balance.
Debit or credit balance.
None of the above
Which individual is typically responsible for maintaining the petty cash book?
Chief Financial Officer (CFO)
External auditor
Petty cash custodian
Bank manager
Which type of cash book is commonly used by nonprofit organizations or small businesses for tracking cash expenditures?
Single column cash book
Double column cash book
Triple column cash book
Petty cash book
If a company receives cash from a debtor, which column(s) in the cash book will be affected?
Cash column
Bank column
Cash and Bank columns
Credit column
The balance of cash book shows
Net income.
Cash in hand.
Net expenditure.
Net bank balance.
In a petty cash book, what is the main difference between the debit and credit sides?
Debit side records cash purchases, credit side records credit purchases
Debit side records receipts, credit side records payments
Debit side records payments, credit side records receipts
Debit side records cash, credit side records bank transactions
Which of the following is both a book of journal and ledger?
Cash book
General journal
Purchases journal
Sales journal
Bank overdraft is shown on the———side of the Cash book:
Debit
Credit
Either Debit or Credit
None
Simple petty cash book is like a
cash book
statement
journal
None of these
When a cash book shows a credit balance, what does this indicate?
The business owes money to the bank
The business owes money to creditors
The business has more cash than its liabilities
The busines is in financial trouble
Which of the following transactions would be recorded in the cash column of a double column cash book?
Cash sales
Credit sales
Purchase on credit
Payment made by check
What type of transaction would be recorded in the bank column of a cash book?
Cash received from customers
Cash paid for expenses
Cash purchases
Deposit into the bank account
Which of the following is NOT a purpose of the cash book?
Monitoring cash balances
Recording credit sales
Reconciling bank statements
Tracking cash receipts and payments
Which statement is true regarding a cash book with a credit balance in the bank column?
The business has overdrawn its bank account
The business has more cash payments than cash receipts
The business has more cash payments than bank deposits
The business has more cash in the bank than the amount shown
In a cash book, which side is used to record cash receipts?
Left side
Right side
Top side
Bottom side
Which type of cash book is suitable for a business that conducts mostly cash transactions?
Single column cash book
Double column cash book
Triple column cash book
Petty cash book
Cash withdrawn from bank for office use will be entered in which columns of Cash / Bank Book
Cash column in Debit side only
Cash column in Credit side only
Cash column in Debit side and Bank Column in Credit side.
Bank column in Debit side & Cash column in Credit side.
What is the main advantage of using a cash book in accounting?
It helps prevent fraud
It eliminates the need for bank accounts
It provides a detailed record of cash transactions
It automatically generates financial statements
What is the purpose of a petty cash book in accounting?
To record large cash transactions
To record only cash sales
To track small cash expenditures
To record credit transactions
The balance of Bank column of Cash Book is ———-balance :
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