Tag: recording and posting of cash transactions
Questions Related to recording and posting of cash transactions
Which of the following by is incorrect?
State with reasons whether the following statement is true or false:
The balance in the petty cash book represents the amount spent.
State with reasons whether the following statement is true or false:
Petty cash is an expense.
Petty cash book can be treated as _____________.
What is an analytical petty cash book?
Which of the following statements is incorrect?
If the debit and credit aspects of a transaction are recorded in the cash book it is a:
In petty cash book, the system followed ______________.
Where two aspects of transaction are posted in the cash book, such an entry is called _______________.
The balance in the petty cash book is ___________.