Question :

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

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Related Questions - 2


Trial balance is prepared on ________ basis


A) Monthly
B) Annually
C) Half yearly
D) Any of the above

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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

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Related Questions - 4


Which option is used in Tally to close opened Company


A) Alter
B) Shut Company
C) Create Company
D) Select Company

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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

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