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
Which option is true for viewing Profit & Loss A/C in Gateway of Tally
A) Gateway of Tally > Reports > Profit ; Loss A/C
B) Gateway of Tally > Display > Profit ; Loss A/C
C) Gateway of Tally > Account Books > Profit ; Loss A/C
D) None of these
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A ______ is sent to a customer when he returns the goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
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B) Maintain Bill wise Details
C) Maintain References
D) None of these
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A) Lts
B) Nos
C) Kgs
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Related Questions - 5
A ______ is sent to the seller when he is taken back the sold goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill