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WorksheetsAccounts Quiz
Total questions: 20
Worksheet time: 20mins
If the business maintains a cash book , it need not maintain a __________________________
Journal
Sales book
Purchase book
Cash and bank account (separately)
Salaries paid in the month of March, this transaction will appear on which side of the cash book?
Debit
Payment
Contra
Credit
Which is not a contra entry in cash book
Cash deposited into bank
Cash withdrawal from bank
Cash withdrawal from bank for personal use
None of these
Which of the following is NOT recorded in the cash book?
Trade discount
Bad debts
Credit purchase
All of the above
A double-column cash book means that it contains ______________
Only cash column
Only bank column
Only discount column
Both cash and bank column
A bank reconciliation statement is
Part of the cash book
Part of Bank account
Part of financial statement
None of the above
A bank reconciliation statement is a statement which . . .
is sent by banks to their customers.
is sent by banks to any of their customers who exceed their agreed credit limit with the bank.
explains the difference between the bank balance shown in a firm's accounting records and that shown on its bank statement.
None of the above.
A cash deposit made by business appears on the bank statement as _______ balance.
Debit
Credit
Expenses
Liabilities
Whenever money is deposited by the business, a credit entry is made in its records and it corresponds to a debit entry in the bank's records.
True
False
Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business)
Cash receipt journal
Cash payment journal
Cash book
Financial statements
A cheque which has been drawn but not yet shown on bank statement refers to which of the following items?
Credit Transfer
Dishonoured Cheque
Uncredited Deposit
Unpresented Cheque
If the bank charges the business fees, the bank makes a credit entry in the bank statement.
True
False
When the balance as per cash book is the starting point in the bank reconciliation statement, bank lodgments are ______________ (remember the acronym, CUBB)
added
subtracted
not required to adjust
neither of the two
If the final balance in the bank statement is $3900 Cr, unpresented cheques equal $500 and bank lodgments total $900, the final balance in the business's bank account is:
(*remember the acronym CUBB)
$4300 Dr
$4300 Cr
$3500 Cr
$3500 Dr
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