Petty cash fund is supposed to be replenished?

Related Mcqs:

1. The closing balance of petty cash book is considered as_________?

   A. Liability
   B. Asset
   C. Expenses
   D. Income

2. The closing balance of a petty cash book is a / an___________?

   A. Liability
   B. Gain
   C. Assets
   D. Loss

3. Petty cash balance is a/an___________?

   A. Assets
   B. Expenditure
   C. Liability
   D. None

4. A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?

   A. $2000 will be debited in cash book
   B. $2000 will be credited in cash book
   C. $4000 will be debited in cash book
   D. $4000 will be credited in the cash book

5. The compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?

   A. Interest Rate
   B. Required rate of return
   C. Nominal interest rate
   D. All of the above

   Submitted by: Maneesh kumar

6. Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?

   A. Receipts
   B. Payments
   C. Incomes
   D. Expenditures

7. Cash book with cash and discount column is mostly referred as________?

   A. Simple cash book
   B. Two column cash book
   C. Three column cash book
   D. Petty cash book

8. A cash book that is used to record the small payments of cash is generally referred as_________?

   A. Simple cash book
   B. Two column cash book
   C. Three column cash book
   D. Petty cash book

9. A cash book with cash, bank and discount column is commonly referred as________?

   A. Cash book
   B. Two columns cash book
   C. Three columns cash book
   D. Petty cash book

10. $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

    A. $5000 will be credited
    B. $5000 will be debited
    C. $10,000 will be credited
    D. $10,000 will be debited