Cash book with cash and discount column is mostly referred to as
A. Simple cash book
B. Two columns cash book
C. Three columns cash book
D. Petty cash book
Answer: Option B
Solution(By Examveda Team)
Two Column Cash Books - In this discounts is also recorded with cash transactions. So both discounts received and the discount that is given is recorded here. If any organization is in a general practice of giving or receiving discounts this is the preferable option.This Question Belongs to Commerce >> Accounting
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Comments ( 8 )
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Three column cash book unlike two column Bank and cash aslo known as contra entry or when included one more column like three column..cash , bank and discount
Sir Double column case book contains discounts and cash. The three. Column cash book also contains bank column .
B is right answer.
Explanation:
Cash book with cash and discount column is mostly referred to as two columns cash book. In three column cash book Cash, discount and also bank column included.
I think its call two column cash book
i think two column cash book because three column also include bank column
I think there option C indicates one cash book column and others are one is discount receive column and another is discount allowed column. Because here not clearly said what type of discount is this.
it will be a two column cash book as only two accounts are there so option B is correct
Generally, cash book has three types :a) single column cash book "where contained only cash column,
B) Double column cash book ;contained two column "cash column and bank column".
C) Triple column cash book ;here contained three column "cash,bank and discount column.