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


Where do we record credit purchase of furniture in Tally


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

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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


________ gives the balance for each day for the voucher type has been selected.


A) Trial Balance
B) Day book
C) Balance Sheet
D) None of the above

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Related Questions - 4


Default ledger accounts in tally are ________


A) Balance sheet profit & loss and trial balance
B) Profit & loss and trial balance
C) Cash and profit & loss accounts
D) Cash and bank accounts

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Related Questions - 5


eTCS means


A) Enable Tax Collected at Source
B) Electronic Tax Collected at Source
C) Electric Tax Collected at Source
D) None of these

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