Tag: subsidiary books - 2

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Questions Related to subsidiary books - 2

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

One outgoing Cheque of Rs. 112 recorded in the Cash Book but omitted to be sent to creditor. When the balance as per Cash Book is the starting point ___________________.

  1. Rs. 112 to be added

  2. Rs. 112 to be subtracted

  3. No adjustment is required

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Recording a cheque as a payment in the cash book reduces the cash book balance, but since it was not sent to the creditor, the actual bank balance is higher. To reconcile from the cash book, the amount must be added back.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

One outgoing cheque of Rs. 112 was recorded twice in the Cash Book. When the balance as per Cash Book is the straight point.

  1. Rs. 112 to be added

  2. Rs. 112 to be subtracted

  3. No adjustment is required

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Recording a payment twice in the cash book reduces the balance by double the amount. To correct this when starting from the cash book balance, the extra amount must be added back.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

One outgoing cheque of Rs. 112 recorded as Rs. 121 in the cash column is the Cash Book. (Note: The cheque was presented in the bank). When the balance as per Cash Book is the straight point.

  1. Rs. 112 to be subtracted

  2. Rs. 121 to be subtracted

  3. Rs. 9 to be added

  4. Rs. 112 to be added
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The cash book was credited for 121 instead of 112, meaning the cash book balance was reduced by 9 more than it should have been. To reconcile from the cash book, the difference of 9 should be added, but since the bank actually paid 112, the net adjustment requires subtracting the original 112 to align with the bank's actual deduction.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

A cheque received from a debtor for Rs. 112 deposited but omitted to be recorded in the cash column in the cash-Book (Note: Bank has collected and  credited this cheque)
When the balance as per Cash Book is the starting point. 

  1. Rs. 112 to be added

  2. Rs. 121 to be added

  3. Rs. 9 to be subtracted

  4. Rs. 112 to be subtracted
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The bank collected the money, but it was not recorded in the cash book. Therefore, the bank balance is higher than the cash book balance. To reconcile from the cash book, the amount must be added.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

In triple column cash book, cash withdrawn from bank for office use will appear in ___________.

  1. Debit side of the cash book only

  2. Both sides of the cash book

  3. Credit side of the cash book only

  4. Credit side of the bank account
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cash withdrawn from bank for official use will give two effects in cash book. Cash book is carrying cash and bank both columns. Hence withdrawal of cash from bank reduces the bank balance and increases the cash balance. 

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

When can mistake apparent on record be corrected?

  1. When mistake noticed by authority passing the order

  2. When mistake pointed out by corresponding officer of SGST

  3. When mistake pointed by person affected by the order

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A mistake apparent on the record can be corrected by the authority that passed the order, upon the request of an affected party, or by official notice. All these scenarios allow for the rectification of such errors.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

Excess of bank withdrawal over bank deposits __________.

  1. Overdraft

  2. Cash balance

  3. Bank balance

  4. <span>Loan</span>
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The opening cash and bank balances are recorded on the debit side of the cash book. Sometimes a businessman withdraws excess amount from the bank (from his bank account) and the closing bank balance of a month is a credit balance. This balance amount is called 'Bank Overdraft'. It is written on the credit side of the bank column of the cash book as opening balance.

Multiple choice commercial studies subsidiary books - 2 three column cash book three columnar cash book triple column cash book

A cash book written in local language by Munimji to record all types of transaction.

  1. Cash book

  2. Petty cash book

  3. <span>Conventional Cash book</span>

  4. Modern cash book
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A conventional cash book is the traditional form used for recording all cash transactions, often maintained in local languages or traditional formats by bookkeepers.