A. Assets
B. Expenditure
C. Liability
D. None
Related Mcqs:
- The closing balance of a petty cash book is a / an___________?
A. Liability
B. Gain
C. Assets
D. Loss - The closing balance of petty cash book is considered as_________?
A. Liability
B. Asset
C. Expenses
D. Income - 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 - Petty cash fund is supposed to be replenished?
A. Every day
B. Every half year
C. Every year
D. At the end of every accounting period - Debit balance = Credit balance in a trial balance indicates that:
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets - Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
A. Errors in cash book
B. Errors in pass book
C. Cheques deposited and cleared
D. Cheques issued but not presented for payment - Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
A. $2000
B. Zero
C. $3000
D. $2500 - Which of the following account with normal balance is shown at the debit side of a trial balance?
A. Rent income account
B. Creditors account
C. Unearned income account
D. Cash account - Which of the following account with normal balance is shown at the credit side of a trial balance?
A. Cash account
B. Bank account
C. Equipment account
D. Accrued expenses account - If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
The correct answer to the question: "Petty cash balance is a/an___________?" is "Assets".
