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- 1. Multiple Choice
Which entry is made on both sides of the cash book?
General Entry
Double Entry
Contra Entry
Compound Entry
- 2. Multiple Choice
Which type of cash book includes the discount columns?
2- Column Cash Book
4-Column Cash Book
General Cash Book
3-Column Cash Book
- 3. Multiple Choice
An invoice shows a total of $3,200 less 2 1/2 cash discount if paid within 30 days. If the invoice was paid within the time allowed what amount would be shown on the cheque?
$2,960
$3,040
$3,120
$2,800
- 4. Multiple Choice
On which side of the cash book is discount allowed recorded?
Debit Side
Debit and Credit Side
Credit Side
Folio Column
- 5. Multiple Choice
What type of discount is given to a customer that pays their bill in a specified period of time?
Trade Discount
Five Finger Discount
Cash Discount
None of these
- 6. Multiple Choice
A copy of the customer's banking transactions that is sent to the customer on a regular basis is called a ___________________
Bank Statement
Cheque Book
Deposit Book
Statement of Account
- 7. Multiple Choice
A 2-Column Cash Book has 2 money columns as follows:
One for discount allowed and discount received
One for Cash and the other for bank
One for Cash receipt and the other cash payment
One for Bank receipt and the other discount received
- 8. Multiple Choice
Office cash that is deposited in the bank is recorded in cash book on
Debit Side
Credit Side
Debit and Credit Side
None of the above
- 9. Multiple Choice
Cash withdrawn for personal use for the owner is recorded on what side of the cash book?
Debit
Credit
Debit and Credit
None of the above
- 10. Multiple Choice
A cash book is used to record ________________
All cash transactions
All bank transactions
Cash receipts
All Cash and bank transactions
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