1.Cash book is a book of:
Original entry
Specialized journal
Income & expenditure
2.Cash book has column of petty cash and bank:
Yes
No
3.Cash book also records entries for accrual expenses?
Yes
No
4.Closing balance of cash book is recorded in:
Profit & loss account
Statement of changes in equity
Balance sheet
5.Prepaid insurance paid $2,000 is recorded on which side of cash book?
Credit
Debit
Not to be recorded
6.Cash book is used to record:
Receipts & payments
Receipts
Payments
None of them
7.Who is responsible to make cash book?
Project Manager
Accountant
Auditor
No one
8.Owner of the business invested $100,000 into the business, how you will record this in cash book?
Debit cash book
Credit cash book
No effect on cash book
9.When an entry affects the cash book on both side, it is called:
Compound journal entry
Contra entry
Single entry
Original entry
10.Credit balance in the cash book implies:
Cash at Bank
Overdraft
Bank balance
Letter of credit
