Cash Book MCQs 1

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MCQS 1 To 10

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1. When any entry is made on the both sides of cash book is called as?

(a) General entry

(b) Double entry

(d) Contra entry

Correct! Wrong!

2. Which one of the following affects cash book during a period?

(a) Recording depreciation expense

(b) Declaration of a cash dividend

(d) Payment of an accounts payable

Correct! Wrong!

3. How much kind of Cash book?

(a) 2

(b) 3

(d) None of them

Correct! Wrong!

4. A company issues check to pay account payable. The effect of the transaction is to?

(a) Increase assets and liabilities

(b) Increase assets and decrease liabilities

(d) Increase assets and stockholder's equity

Correct! Wrong!

5. A check received and paid into the bank on the same date is recorded in the?

(a) Bank column of the cash book

(b) Cash column of the cash book

(d) None of above

Correct! Wrong!

6. The transaction will be treated as a contra entry when?

(a) Cash withdrew from bank for personal use

(b) Check received from customer and deposited

(d) Non of Above

Correct! Wrong!

7. Which one of the following is not correct for cash book?

(a) It is a dual book

(b) It is journalized ledger

(d) Double Purpose Book

Correct! Wrong!

8. Over drawn balance of cash book is recorded on?

(a) If Dr or Cr balance not mentioned will be overdrawn balance

(b) If mentioned O/D balance then will be debited on debit side of cash book

(d) None of Above

Correct! Wrong!

9. A check received on 12th of December dated 25th December is considered as?

(a) Bank

(b) Cash

(d) Revenue

Correct! Wrong!

10. Which of the following item is not included in the Cash Book?

(a) Purchases of Rs. 10,000

(b) Sales of Rs.5,000

(d) Credit sales of Rs. 22,000

Correct! Wrong!

Cash Book I (1-10)

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>> Read Cash Book.

MCQs 11 To 20

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11. Which of the following items is not considered as cash or cash equivalent?

(a) Cash on hand

(b) Bank borrowings

(d) Investments with a maturity of two months from the date of acquisition

Correct! Wrong!

12. The Cash of a business would change as a result of?

(a) A supplier being paid by check and deposited

(b) Raw materials being purchased on credit

(d) Wages being paid in cash

Correct! Wrong!

13. Contra entry is recorded in?

(a) Double column cash book

(b) Single column cash book

(d) a and c

Correct! Wrong!

14. A book in which cash balance and bank balance are simultaneously maintained is known as?

(a) Simple cash book

(b) Single column cash book

(d) None-of these

Correct! Wrong!

15. If a business shows a debit balance in its own record of its bank balance, this indicates?

(a) The business has a bank overdraft

(b) The business is a debtor in the books of bank

(d) The ledger entry must be wrong

Correct! Wrong!

16. The unfavorable balance of cash in cash book is?

(a) An expense

(b) Liability

(d) An Asset

Correct! Wrong!

17. When a company received check from customer. The effect of the transaction is to?

(a) Increase assets and decrease assets

(b) Increase assets and liabilities

(d) Increase assets and stockholder's equity

Correct! Wrong!

18. Cash book involves the?

(a) For payment transactions

(b) Both payment and receipt transactions

(d) None

Correct! Wrong!

19. The transaction will be treated as a contra entry when?

(a) Cash withdrew from bank for domestic use

(b) Check received from customer and deposited

(d) All of given options

Correct! Wrong!

20. When a check is received from a customer and it is deposited into the bank for collection but ultimately returned dishonored, the customer account will be?

(a) Debited

(b) Credited

(d) None of these

Correct! Wrong!

Cash Book I (11-20)

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>> Practice Single Column Cash Book Problems and Solutions.

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References

Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.

Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.

Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.

9 Comments

احمد on January 19, 2021 at 11:02 am

Some truly great info , Glad I observed this.
Reply
SAMIA RASHEED on October 23, 2020 at 12:13 pm

THERE ARE 3 TYPES/KINDS OF CASH BOOK BUT IN QUESTION 3 WHEN I PRESSED ON OPTION ANSWER 3 IT GOT WRONG WHY?
Reply
- Zaheer Swati on October 26, 2020 at 5:36 pm
  
  Thank your for your question. There are three types of cash book according to some text book, but there are four types of cash books:
  Single column,
  Two column,
  Three column and
  Petty cash book.
  Reply
- Shahid Rather on November 8, 2020 at 9:52 am
  
  There are four indeed
  Reply
- Mousin on February 11, 2021 at 9:06 am
  
  There is also 4th type of cashbook.. Known as petty cash book
  Reply
Ahmad Fayaz on May 17, 2020 at 4:48 pm

To be very laconic I ll say if this is helpful at the same time itz contravene that why only 20 questions are on the secreen
Reply
Arbind Prasad kushwaha on April 9, 2020 at 8:40 am

Done ma’am
Reply
Arbind Prasad kushwaha on April 9, 2020 at 8:25 am

These all questions are really helpful for me. I want to do more practices.
Reply
Fath on March 3, 2020 at 8:12 am

complete
Reply

Cash Book MCQs 1

MCQS 1 To 10

Click The Option and See Result

1. When any entry is made on the both sides of cash book is called as?

2. Which one of the following affects cash book during a period?

3. How much kind of Cash book?

4. A company issues check to pay account payable. The effect of the transaction is to?

5. A check received and paid into the bank on the same date is recorded in the?

6. The transaction will be treated as a contra entry when?

7. Which one of the following is not correct for cash book?

8. Over drawn balance of cash book is recorded on?

9. A check received on 12th of December dated 25th December is considered as?

10. Which of the following item is not included in the Cash Book?

MCQs 11 To 20

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11. Which of the following items is not considered as cash or cash equivalent?

12. The Cash of a business would change as a result of?

13. Contra entry is recorded in?

14. A book in which cash balance and bank balance are simultaneously maintained is known as?

15. If a business shows a debit balance in its own record of its bank balance, this indicates?

16. The unfavorable balance of cash in cash book is?

17. When a company received check from customer. The effect of the transaction is to?

18. Cash book involves the?

19. The transaction will be treated as a contra entry when?

20. When a check is received from a customer and it is deposited into the bank for collection but ultimately returned dishonored, the customer account will be?

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