Multiple choice

What is full form of CRJ and CPJ?

  1. Capital Reserve Journal and Capital Properties Journal

  2. Credit Reserve Journal and Credit payment journal

  3. Current Revenue Journal and Current Payment Journal

  4. Cash Receipt Journal and Cash Payment Journal

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

CRJ means cash receipt journal. In CRJ, we record only cash receipts. There are lots of sources of receiving cash, so we can make different columns in this journal. CPJ means cash payment journal. In CPJ, we record only cash payments. These payments are done for creditors, repayment of loans and other expenses. For knowing how much payment has been done, we show the different columns.

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