Cash Book MCQs
Written by True Tamplin, BSc, CEPF®
Updated on April 29, 2022
Take this quick test on the cash book to help you prepare for your exams and interviews. If you find it difficult to answer any of these multiple choice questions (MCQs), read more about the cash book first and complete the MCQ test afterward.
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Question 1 of 10
1. Question
A double column cash book has two money columns for the following purposes:
Correct
Awesome! Your answer is correct.Incorrect
Your answer is incorrect. The correct answer is “One for discount and the other for cash.” (option 2). -
Question 2 of 10
2. Question
Contra entries are recorded in:
Correct
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Your answer is incorrect. The correct answer is “Cash book with discount and bank column.” (option 2). -
Question 3 of 10
3. Question
Office cash deposited into the bank is recorded in the cash book on:
Correct
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Your answer is incorrect. The correct answer is “Debit side and on the credit side” (option 3). -
Question 4 of 10
4. Question
Cash discount allowed is recorded on the:
Correct
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Your answer is incorrect. The correct answer is “Recorded on the debit side of cash book” (option 1). -
Question 5 of 10
5. Question
Cash withdrawn from bank for office use is recorded in the cash book on:
Correct
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Your answer is incorrect. The correct answer is “Debit side and credit side” (option 3). -
Question 6 of 10
6. Question
Cash withdrawn from the bank for the owner’s personal use is recorded in the cash book on:
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Your answer is incorrect. The correct answer is “credit side” (option 2). -
Question 7 of 10
7. Question
The cash book is meant for recording:
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Your answer is incorrect. The correct answer is “all cash transactions” (option 1). -
Question 8 of 10
8. Question
Cash sales are recorded in:
Correct
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Your answer is incorrect. The correct answer is “Cash book” (option 2). -
Question 9 of 10
9. Question
The petty cash book is used to record:
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Your answer is incorrect. The correct answer is “petty cash receipts and payments” (option 4). -
Question 10 of 10
10. Question
In the case of cash book, if the nature of the balance is not mentioned, then it will be:
Correct
Awesome! Your answer is correct.Incorrect
Your answer is incorrect. The correct answer is “Debit balance” (option 1).
You can also check:
Frequently Asked Questions
What is a cash book?
A cash book is a financial record of all cash transactions that occur within a business. This includes receipts, payments, and withdrawals. The cash book is used to help track the business’s overall financial position.
What information is included in a cash book?
The cash book can be used to calculate the business’s Cash Flow, track inventory levels and monitor financial performance. It can also be used to help make informed business decisions.
What information is included in a cash book?
What information is included in a cash book?
How is the cash book updated?
The cash book is updated each time a transaction occurs. This information is then used to produce Financial Statements and other reports.
What are the benefits of using a cash book?
The main benefits of using a cash book are that it helps businesses track their financial position, make informed business decisions, and improve their overall financial performance.
About the Author
True Tamplin, BSc, CEPF®
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.
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