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WorksheetsThe Cash Book
Total questions: 15
Worksheet time: 10mins
The book of original entry in which all cash and bank transactions are recorded is called the ______
cash book
purchases book
journal
ledger
Which book of original entry is used to record moneis received and paid out by the business trough bank or cash?
Journal
Petty cash book
Return Outwards Journal
Cash book
True or False. There are 2 types of cash book.
True
False
True or False. Monies received by the business are recorded on the credit side of the cash book.
True
False
True or False. Payments made by the business are recorded on the credit side of the cash book.
True
False
Which of the statements below define the term 'discount'?
A reduction in price
An increase in price
Paying only half of the cost price
Paying by cheque
________ is an allowance given for buying goods in bulk.
Cash
Trade discount
Cash discount
Transaction
________ an allowance given for quick payment of an account owing.
Cash
Trade discount
Cash discount
Transaction
True or False. The discount allowed is entered on the debit side of the cash book.
True
False
True. False. The Discount received is entered on the debit side of the cash book.
True
False
True or False. The cash book normally carries a normal credit balance.
True
False
True or False. When the balance b/d appears on the credit side this means there is a bank overdraft.
True
False
The cash book works as a book of original entry and also a ledger account.
TRUE
FALSE
The credit side of the cash book is also known as
the receipt side
the profit side
the payment side
the loss side
A contra entry is an entry that involves:
a cash account as well as a sales account
a bank account as well as a discount account
a cash account as well as a bank account
a cash account as well as a discount account
