1281. Cash discount is provided on :
A. Prompt payment *
B. Sale
C. Purchase
D. List price
1282. Cash account is a :
A. Personal account
B. Real account *
C. Nominal account
D. Both real and personal account
1283. The discount account is a :
A. Personal account
B. Real account
C. Nominal account *
D. Both real and Personal account
1284. A contra entry is one which does not require posting to the :
A. Journal
B. Ledger *
C. Cash book
D. None of the above
1285. A contra-entry appears on both sides of :
A. Journal
B. Cash book *
C. Trial balance
D. Sales book
1286. Cash account will show :
A. Debit or credit balance
B. Credit Balance
C. Debit Balance *
D. Both Debit and Credit
1287. Cash book is :
A. Subsidiary Journal
B. Subsidiary Journal and ledger account *
C. Ledger account
D. Subsidiary journal or ledger account
1288. A customer’s cheque returned dishonoured is recorded :
A. Returns inward books
B. Cash book *
C. Ledger
D. Sales book
1289. Cash sales are recorded in :
A. Sales book
B. Cash book *
C. Debtor’s book
D. None of the above
1290. Bank columns of the cash book represent bank account in the :
A. Journal
B. Ledger *
C. Trial balance
D. Pass book