Question :
A) Journal proper
B) Purchase day book
C) Cash book
D) Any of the above
Answer : C
A ________ serves the purpose of both journal and ledger accounts
A) Journal proper
B) Purchase day book
C) Cash book
D) Any of the above
Answer : C
Description :
A cash book is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a general ledger. A cash book serves the purpose of both the journal and ledger, whereas a cash account is structured like a ledger. Details or narration about the source or use of funds are required in a cash book but not in a cash account.
Related Questions - 1
Retained Earnings is an alias of
A) Indirect Income
B) Reserve and Surplus
C) Capital Account
D) Investments
Related Questions - 2
Trial balance is prepared on ________ basis
A) Monthly
B) Annually
C) Half yearly
D) Any of the above
Related Questions - 3
A ________ serves the purpose of both journal and ledger accounts
A) Journal proper
B) Purchase day book
C) Cash book
D) Any of the above
Related Questions - 4
Which option is used in Tally to close opened Company
A) Alter
B) Shut Company
C) Create Company
D) Select Company
Related Questions - 5
Which ledger is created by Tally automatically as soon as we create a new company
A) Cash
B) Profit ; Loss A/c
C) Capital A/c
D) A and B both