1271. Single column cash book is used for recording:

A. Cash transaction only *
B. Cash and bank transaction
C. Cash, book and discount transactions
D. None of the above

1272. The double column cash book makes the record of :

A. Cash transactions only
B. Cash and bank transactions *
C. Cash,Bank and discount transactions
D. None of the above

1273. The triple column cash book makes the record of :

A. Cash transactions only
B. Cash and bank transactions
C. Cash, bank and discount transactions *
D. None of the above

1274. Discount deducted from catalogue or list price is called :

A. Trade discount *
B. Cash discount
C. Catalogue discount
D. Credit discount

1275. If a person pays his debit before the due date df payment the recipient may grant him an allowance for doing so, this allowance is known as :

A. Trade discount
B. Cash discount *
C. Catalogue discount
D. Credit discount

1276. If an amount is entered on the debit side of an account and the exact amount is again entered on the credit side of the same account,it is called a :

A. Contingent entry
B. Contra entry *
C. Compound entry
D. Double entry

1277. The balance on the debit side of the bank column in cash book indicates :

A. The total amount withdrawn from ban
B. The total amount deposited from bank
C. Cash at bank *
D. Cash in hand

1278. The balance of the column is always :

A. Debit balance *
B. Credit balance
C. Both debit and credit balances
D. None of the above

1279. Discount column of the cash book are totaled whereas bank and cash columns are balanced because :

A. Discount columns represent rough work
B. Discount columns are in the nature of memorandum accounts *
C. It represent expense
D. It represent income

1280. The cash book in book keeping records:

A. All cash payments and receipts
B. All cash and credit sale of goods
C. All credit and cash purchase of goods
D. Only cash payments