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INTERVIEW QUESTIONS ACCOUNTING PROCESS CASH BOOKS DETAILS

Question: Which is the hardest compound known?

Answer: (c) Petty Cash Book
Description: Petty cash book is used to record day to day expenses of business which are of small value. Hence purchase of postage stamps by a business will be recorded in petty cash book.

Category Cash Books Interview Questions & Answers - Exam Mode / Learning Mode
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Question: Which is the hardest compound known?

Answer:

(c) Petty Cash Book
Description: Petty cash book is used to record day to day expenses of business which are of small value. Hence purchase of postage stamps by a business will be recorded in petty cash book. Source: CoolInterview.com



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Related Questions
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Where two aspects of a transaction are posted in the Cash Book, such an entry is called: a) Double Entry b) Debit Entry c) Credit Entry d) Contra Entry
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Rent due for the month of March will appear ________ of the cash book. a) On the receipt side b) On the payment side c) As a Contra Entry d) Nowhere
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What will be the journal entry when cash is withdrawn from bank for personal use? a) Drawings A/c Dr., Bank A/c Cr. b) Cash A/c Dr., Bank A/c Cr. c) Bank A/c Dr., Drawings A/c Cr. d) Bank A/c Dr., Capital A/c Cr.
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In three column cash book, when does contra entry occurs? a) Withdrawal of cash from bank b) Payment to creditors c) Withdrawal of cash from bank for personal use d) All of the above
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Imprest received of Rs. 100 was recorded as interest paid. What will be the effect on cash balance? a) Cash will reduce by 100. b) Cash will increase by 200. c) Cash will reduce by 200. d) No effect on cash balance.
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Is the boiler a closed system?
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Double entry in Cash Book is completed when: a) Salaries are paid by cheque b) Withdrawal of money from bank for personal use c) Deposited cash into bank d) None of these
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In petty cash book, the system followed:-

(a) Accrual System
(b) Imprest System
(c) Ledger System
(d) None
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Cheques received but deposited on the next day are recorded in: a) Cash column of the cash book b) Bank column of the cash book c) Both of these d) none of these
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What rate of commission is charged by the bank issuing the credit card: a) 1% to 3% b) 3% to 6% c) 2% to 5% d) 1% to 4%
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If the debit and credit aspects of a transaction are recorded in the cash book it is a: a) Contra Entry b) Simple Entry c) Double Entry d) Single Entry
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Small payments are recorded in a book called: a) Cash Book b) Small Payments Book c) Purchase Book d) Petty Cash Book
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Cash book is a form of: a) Trial balance b) Ledger c) Journal d) All of the above
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The balance of Petty Cash is:-

(a) An Expense
(b) Reserve
(c) An Asset
(d) Payment
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