The 'Cash Book' serves as: MCQ with Answer and Explanation

Question Report Error
The 'Cash Book' serves as:
A. A subsidiary book for all transactions
B. Only a journal
C. Only a ledger
D. Both journal and ledger for cash transactions
Answer: Option D
Solution (By JKExamLibrary)
Cash book records all cash and bank transactions, functioning as journal (original entry) and ledger.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1 Report Error
Integration of State Treasuries with PFMS achieves which of the following?
A. Tracking of Centrally Sponsored Schemes (CSS) funds up to the implementing agencies
B. Complete elimination of state governments
C. Privatization of public banks
D. Conversion of cash into digital currency
Discuss

Correct Answer: Option A

Explanation:
Treasury integration allows the central government to track unspent balances and actual expenditure of funds granted to states for various schemes.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2 Report Error
The primary purpose of preparing a Bank Reconciliation Statement (BRS) is to:
A. Calculate bank interest
B. Determine the net profit
C. Identify causes of difference between cash book and pass book balances
D. Correct errors in the ledger
Discuss

Correct Answer: Option C

Explanation:
BRS is prepared to reconcile the bank balance as per the cash book with the balance as per the bank statement (pass book).
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3 Report Error
The 'Cryptocurrency' as per Indian laws is:
A. Not considered legal tender but taxed
B. Banned completely
C. Only allowed for banks
D. Legal tender
Discuss

Correct Answer: Option A

Explanation:
Cryptocurrencies are not legal tender in India but gains are taxed.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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