Cash Book Intro Quiz

There are two cash columns on the debit side and two banks columns on the credit side.

• TRUE

• FALSE

A contra shows a double-entry for cash and bank transaction in the cash book.

• TRUE

• FALSE

Which document is used to help verify that the monies on the business account are the same as what is recorded in the cash book?

• Trial Balance

• Bank Statement

• Bank Overdraft

• Trading and Profit and Loss Accounts

Discounts received and discounts allowed columns appear ONLY in the three column cash book set-up.

• TRUE

• FALSE

All transactions in the cash book MUST show double-entry.

• TRUE

• FALSE

Cheques payments to the business and cheques deposited are recorded in which column of the cash book?

• Bank on credit side

• Cash on debit side

• Bank on debit side

• Cash on debit side

Monies that withdrawn from the bank account for business use are recorded:

• as a Drawings transaction

• as a Contra transaction

• as a credit to Bank Only

• as a debit to Cash Only

'C' in the folio column stands for _______.

A Balance c/d on April 30, will appear as what in the new month?

• Balance c/d May 30

• Balance b/d April 1

• Balance b/d May 1

• Balance c/d April 30

A _____________ is when the owner of the account is allowed to withdraw more than the amount on the account, to be paid back at a later date.

• Bank Statement

• Back Reconciliation

• Bank Drawings

• Bank Overdraft