Select the most appropriate answers from the alternatives given below and rewrite the sentences
1) Cash column of Cash Book can never have ….. balance.
(a) credit (b) debit (c) zero (d) none of the above
2) Any entry recorded on both sides of Cash Book is known as ….. entry
(a) opening (b) rectifying (c) transfer (d) contra
3) The source document for recording in Sales book is …..
(a) Inward Invoice (b) Outward Invoice (c) Voucher (d) Cash Memo
4) Credit purchase of Machinery is recorded in the …….
(a) Purchase Book (b) Cash Book (c) Journal Proper (d) Returns Outward Book
5) Sub-division of journal is knows as …. book.
(a) Subsidiary (b) Purchase Return (c) Purchase (d) Journal Proper
6) Additional cash introduced in business is recorded in …..
(a) Purchase Book (b) Cash Book (c) Journal Proper (d) Returns Inwards Book.
7) Entry for bad debts is recorded in the ……
(a) Sales Book (b) Purchase Book (c) Cash Book (d) Journal Proper
8) Direct deposit made by customer into our bank is recorded in the ….. side of the Cash Book.
(a) payments (b) credit (c) receipts (d) both
9) The person who draws the cheque and signs on it is the ……
(a) drawer (b) drawee (c) payee (d) all of the above
10) A fixed amount is deposited for a fixed period in ….. deposit account.
(a) Current (b) Savings (c) Fixed (d) Recurring