Question 1An analytical cash book is used to A.indicate sources of cash receivedB.Categorise petty cash paymentC.separate cash and bank balanceD.analyse amounts due from debtorsObjective Show full explanation
Question 2The sum of money given to a petty cashier out of which small payments are made is called ..........A.bonusB.loanC.advanceD.floatObjective Show full explanation
Question 3A rent of 250,000 was paid by John to his landlord by cheque. The double entry in John's books is .........A.debit Rent account, credit Bank accountB.debit Rent account, credit John's accountC.debit Bank account, credit Rent accountD.debit John's account, credit Rent accountObjective Show full explanation
Question 4The accounting principle which states that for every debit entry, there in a corresponding credit entry is recognized as conceptA.realizationB.entityC.going concernD.dualityObjective Show full explanation
Question 5The art of collecting, recording, presenting and interpreting accounting data isA.cost accountingB.management accountingC.financial accountingD.data processingObjective Show full explanation