Which of these documents is not required for Bank Reconciliation?
Which of these documents is not required for Bank Reconciliation?
A. Bank column of Cash Book
B. Bank Pass Book
C. Bank Statement
D. Trial Balance
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Closing stock is generally valued at______________?
Closing stock is generally valued at______________?
A. Cost Price
B. Market Price
C. Cost price or Market price whichever is higher
D. Cost price or Market price whichever is lower[Hints: D. Para 5, of AS-2 states that inventories should be valued at the lower of cost and net realizable value.]
Which of the following is known as the base for preparing trial balance?
Which of the following is known as the base for preparing trial balance?A. Journal
B. Cash account
C. Ledger account
D. Balance sheetThe most common imprest system is the ________ system?
The most common imprest system is the ________ system?A. Petty cash
B. Cash book
C. Cash receipt
D. DiscountCash book records?
Cash book records?
A. Only cash sales
B. All types of cash receipts and payments
C. Only revenue receipts
D. Only capital receiptsPurchase journal is kept to record_____________?
Purchase journal is kept to record_____________?
A. All purchases of goods
B. All credit purchases of goods
C. All credit purchases
D. None of theseCredit purchase of plant and machinery is recorded in which of the following journals?
Credit purchase of plant and machinery is recorded in which of the following journals?A. General journal
B. Cash journal
C. Purchase journal
D. Purchase return journal