CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Recording And Posting Of Cash Transactions Quiz 5 - MCQExams.com

Which of the following is the kind of a cash book?
  • Single column cash book
  • Double column cash book
  • Three-column cash book
  • All of the above
If Sandeep sold goods for Cash, it will be recorded in _____________.
  • Sales Book
  • Cash Book
  • None of these
  • Both of these
Which of the following is correct?
  • Cash book is a journal and not a ledger
  • Cash book is a ledger and not a journal
  • Cash book is both a journal and a ledger
  • Cash book is neither a journal nor a ledger
Which of the following statements is not correct in relation to cash discount?
  • Cash discount is an allowance made by the person to receive cash from the payer for prompt payment
  • Cash discount is an allowance in addition to the trade discount
  • Cash discount is recorded in account books
  • Cash discount is always allowed at a rate higher than the rate of trade discount
Single Column Cash Book may show ______________.
  • only a debit balance
  • only a credit balance
  • either debit balance or a credit balance
  • neither debit nor credit balance.
If the debit as well as the credit aspects of a transaction are recorded in the cash book itself, it is called ______________.
  • An opening entry
  • A compound entry
  • A transfer entry
  • A contra entry.
Balance in a petty cash book is _______.
  • an expense
  • a profit
  • an asset
  • None of these
When a firm maintains a simple Cash Book, it need not maintain ____________.
  • sales journal
  • purchases journal
  • general journal
  • cash account in the ledger
When a cheque received is endorsed, it must be entered on _____________.
  • Credit side of the cash book only
  • Debit side of the cash book only
  • Both sides of the cash book
  • No where
Fixed assets are __________________.
  • Kept in the business for use over a long time of earning income
  • Meant for resale
  • Meant for conversion into cash as quickly as possible
  • All of the above
Bank column of the Cash Book has __________ balance.
  • Debit
  • Credit
  • Either (a) or (b)
  • Neither (a) nor (b)
Cash account will show ______________.
  • Debit or Credit balance
  • A Credit balance
  • A Debit balance
  • None of the above
While posting the Cash Payment from Cash Book___________.
  • Only the individual accounts are posted
  • The individual accounts are debited and also the total of the cash column is credited
  • Only the individual accounts are debited and there is no need to post the total of cash column
  • The individual accounts are credited and the total of the cash column is debited
The petty cashier generally works on _______ system.
  • Balancing
  • Accrual
  • Matching
  • Imprest
A contra entry in the Cash Book means that:________.
  • Debit must be in the Bank Account and the credit in the Cash Account
  • Debit and credit entries are in any folio but in the Cash Book
  • Debit and credit entries are on the same folio of the Cash Book
  • Debit must be in the Cash Account and the credit in the Bank Account
Rent due for the month of March will appear _______________.
  • On the payment side of the cash book
  • On the receipt side of the cash book
  • Nowhere in the cash book
  • As a contra entry
Petty Cash Book may be treated as a __________________.
  • Part of the double entry system
  • Merely as a memoranda book
  • Either (A) or (B)
  • None of the above
Which of the following is/are advantages of the imprest system?
  • It saves the time of chief cashier
  • It reduces the chances of misuse of cash by the petty cashier.
  • It enables a great saving to be effected in the posting of small items to the ledger accounts.
  • All of the above
Payments in cash of small amounts like travelling expenses, postage, carriage etc. are recorded in the ________________.
  • Main Cash book
  • Petty cash book.
  • Cash budget
  • Journal proper
The total of the amount of the bills receivable book is posted to the ______ in the ledger.
  • Dr. of bills payable account
  • Cr. of bills payable account
  • Dr. of bills receivable account
  • None of these.
Cash Book is in the form of _____________.
  • Journal
  • An account
  • Statement
  • All of the above
State with reasons whether the following statement is true or false:
Petty cash is an expense.
  • True
  • False
Maintaining petty cash book is ______.
  • Mandatory
  • Necessary
  • Dependant on nature of business
  • All of the above
Which book of prime entry is also a ledger account?
  • Cash Book
  • Journal
  • Purchases journal
  • Sales Journal
State with reasons whether the following statement is true or false:
The balance in the Cash Book shows net income.
  • True
  • False
In which book does the cash sales will be recorded?
  • Cash Book
  • Purchase Book
  • General Journal
  • Sales Book
Cash column of a Cash-book may show a Debit or Credit Balance.
  • True
  • False
State with reasons whether the following statement is true or false:
Discount account should be balanced in the Cash Book.
  • True
  • False
Which of the following by is incorrect?
  • Every payment made by the petty cashier should be supported by evidence.
  • Regularly petty cashier is reimbursed to make up his cash balance to the imprest.
  • The petty cash book could be either a subsidiary book or a main book of accounts.
  • In emergency the petty cashier may give staff loans of small amounts.
State with reasons whether the following statement is true or false:
The balance in the petty cash book represents the amount spent.
  • True
  • False
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers