Which of the following statements is/are true ??

Accounting Mcqs
BILAL KHATTAK0

A. A sale of an asset is recorded in the Sales Book
B. Total of Return Outward Book is debited to Return Outward Account
C. The balance of Petty Cash Book is a liability 
D. Cash Book is a subsidiary book as well as a ledger 

Related Mcqs:

  1. Which of the following errors is an error of omission??
  2. Which of the following statements is /are true??
  3. Standing orders are ________?
  4. Which of the following statements is true??
  5. A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.?
  6. A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book?
  7. Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book??
  8. Favorable balance of cash book implies that?
  9. Which of the following is known as the base for preparing trial balance??
  10. The Bank Reconciliation Statement is prepared??

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