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


Which of the following is used for voucher entry?


A) Ledger Account
B) Groups
C) Sub-Groups
D) Depends on number of companies

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Related Questions - 2


Which menu appears after starting Tally for the first time


A) Gateway of Tally
B) Company Info
C) Display
D) None of these

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Related Questions - 3


Which option is used to make changes in created Groups of Ledgers in Tally


A) Create
B) Display
C) Alter
D) Change

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Related Questions - 4


What is the predefined number of groups in tally


A) 16
B) 28
C) 128
D) 228

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Related Questions - 5


Where do we record transactions of salary, rent or interest paid


A) Contra
B) Journal
C) Receipt
D) Payment

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