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 used to place data taken in pen drive or CD to Appropriate place in Tally
A) Backup
B) Restore
C) Split Company Data
D) None of these
Related Questions - 2
Rs. 20,000 withdrawn from State Bank. In which voucher type this transaction will be recorded
A) Payment
B) Receipt
C) Contra
D) Post-Dated
Related Questions - 3
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
Related Questions - 4
List of Optional Voucher we can get from
A) Cash Bank Books
B) Exceptional Reports
C) Accounts Books
D) Balance Sheet
Related Questions - 5
Collection of ledgers of same nature is called
A) Vouchers
B) Asset
C) Group
D) None of these