year 8 business studies Dumle

In a three column cashbook, which column is not balanced

• cash column

• discount column

• bank column

• debit column

There are how many types of discounts in business studies (BECE 2018)

• two

• three

• four

• five

Which type of discount appears in both the cash book and ledger  (JSCE 2016)

• cash discount

• discount received

• trade discount

• discount allowed

Two column cash book is also called

• double column cash book

• trial balance

• ledger

• debit and cash entry

Which of the following transactions should be credited in the bank account?

• paid wages by cash

• received a loan from mary

• sold goods and received cheque

• bought goods and paid by cheque

Creditors are usually

• Debited in the cash book

• Credited in the cash book

• A and B is correct

• Credited and debited

One of the following is a Contra entry

• Cash withdrawn from the bank for office use

• Paid wages cash

• Sold goods on credit

• Started with business with cash

The column that records all cash receipt and payment under the two column cash book is called

• Bank column

• Cash column

• Cheque column

• Credit side

A situation whereby the double entry for a particular transaction is completed in the same book of account is called

• Bank account

• contra

• debit

• credit entry

The foundation of bookkeeping lies on the principle of

• double entry

• double accounting

• special journal

• debit and credit entry