(A) Bank column
(B) Discount column
(C) Cash column
(D) None
Tag: Financial Accounting Mcq
The closing balance of a petty cash book is a / an __.
(A) Liability
(B) Gain
(C) Assets
(D) Loss
Which of these transactions will not be recorded in cash book__.
(A) Cash received from debtors
(B) Cash paid to creditors
(C) Salary remained outstanding
(D) Cash deposited with bank
In a three column cash book __ does not exist?
(A) Cash column
(B) Bank column
(C) Petty cash column
(D) Discount column
Cash book records__.
(A) Only cash sales
(B) All types of cash receipts and payments
(C) Only revenue receipts
(D) Only capital receipts
Any gain on the sale of non-current assets should be __ from the net profit and the loss must be __to the net profit in determining fund from operation.
(A) Added, Reduced
(B) Added, Added
(C) Deducted, Added
(D) Deducted, Deducted
Which of these errors affect two or more accounts?
(A) Errors of complete omission
(B) Errors of principle
(C) Errors of posting to wrong account;
(D) All the three
Which of these errors affect only one account?
(A) Errors of casting
(B) Errors of carry forward
(C) Errors of posting
(D) All the three