Petty Cash Book Quiz

In the bustling world of finance, who do you think is the superhero that maintains the petty cash book? Is it our friend Zoe, the Accountant, or perhaps Noah, the Bookkeeper? Maybe it's Luna, the Petty Cashier, or could it be the ever-busy Secretary? Choose wisely!

• Accountant

• Bookkeeper

• Petty cashier

• Secretary

Hey Liam, Nora, and Aria! Imagine you're the petty cashier at your organization. At the start of the month, you receive an amount of money in advance to cover the immediate basic needs of the business. What is this amount called? It's known as __________ float.

• Cash

• Imprest

• Petty cash

• Reimbursement

Hey Anika and Sophia! Let's dive into the world of petty cash! Can you spot the item that doesn't belong in a petty cash book?

• Date

• Folio

• Details

• Amount

Hey Arjun, if you were to purchase some recharge cards, where do you think that would be recorded in the petty cash book? Let's see if you can guess the right section!

• Postage & Internet

• Stationery

• Transportation

• Sundry

Hey Sophia, can you fill in the blank? A _________ is one which appears on both sides of the cash book. Think you can get it right?

• Correction Entry

• Contra Entry

• Adjustment Entry

• Entry for Cash Purchases

Hey Anika, Abigail, and Isla! Let's put on our accounting hats! Which of the following is the magical method we use to prove that the total debits equal the total credits after posting?

• General Journal

• Trial Balance

• General Ledger

• Account Summary

Hey there, Olivia, Michael, and David! Let's dive into the world of accounting! Which of the following items would you find on the credit side of a trial balance?

• Sales revenue

• Cash in hand

• Purchases

• Cash at bank

Hey Arjun, Rohan, and William! Let's put your accounting skills to the test! Which of the following is NOT a component of a trial balance? ____________

• Debit balances

• Net income

• Credit balances

• None of the above

Hey Liam, Lily, and Aria! Let's have some fun with accounting! Which account do you think is usually NOT included in the trial balance? ______________

• Equipment

• Closing inventory

• Owner's capital

• Purchases

Evelyn and Aiden are excited to dive into their accounting adventure! What thrilling step should they take next after preparing a trial balance?

• Prepare financial statements

• Record closing entries

• Calculate depreciation

• none of the above