Test4

The due date for submitting this assignment has passed.

Due on 2019-09-09, 23:59 IST.

Assignment submitted on 2019-09-08, 23:33 IST

1 point
The cheques received by firm and sent to bank for collection are
recorded on ______ side of three column cash book.
debit
either debit or credit
credit
No, the answer is incorrect.
Score: 0
Accepted Answers:
debit
1 point
The cheques issued by firm are recorded on ______
side of three column cash book.
debit
credit
are not recorded at all
No, the answer is incorrect.
Score: 0
Accepted Answers:
credit
1 point
The bank account reflected in a three column cash book can
have:
only debit balance
only credit balance
either credit or debit or nil balance
Yes, the answer is correct.
Score: 1
Accepted Answers:
either credit or debit or nil balance
1 point
The most important advantage of maintaining a petty cash book
is that.
it saves time and effort

it relieves the head cashier from petty burdens

it records petty expenses
No, the answer is incorrect.
Score: 0
Accepted Answers:
it relieves the head cashier from petty burdens
1 point
Which of the following payments is not recorded in a petty cash
book?
wages
conveyance
purchase of goods
Yes, the answer is correct.
Score: 1
Accepted Answers:
purchase of goods
1 point
The details of payments made by petty cashier is:
 is recorded in main cash book in summarized manner
is recorded in main cash book in detailed manner

is not at all recorded in main cash book.

Yes, the answer is correct.
Score: 1
Accepted Answers:
is recorded in main cash book in summarized manner
1 point
Which of the following statements is false?

Ledger record transactions in analytical manner.

Ledger records transactions in classified manner

Ledger records transactions in sequential manner.

No, the answer is incorrect.
Score: 0
Accepted Answers:
Ledger records transactions in sequential manner.
1 point
An accountant has to open as many ledger accounts in his book
as are the number of:
journal entries
working days

accounts used in journal entries

Yes, the answer is correct.
Score: 1
Accepted Answers:
accounts used in journal entries
1 point
Each side of a ledger account as ___ columns.
three
 four
five
No, the answer is incorrect.
Score: 0
Accepted Answers:
four
1 point
Ledger is prepared on the basis of:

transactions
journal entries
Vouchers
Yes, the answer is correct.
Score: 1
Accepted Answers:
journal entries
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