Petty Cash Book

Q.

What are the advantages of a petty cashbook?

Q.

What do you mean by an asset and what are different types of assets?

Q.

What is petty cash book? How is it prepared?

Q.

Is goodwill a fixed asset?

Q. Cheques issued but not presented will be _________ in BRS if starting point is pass book

1. Added
2. Deducted

Q.

Who keeps a petty cash book?

Q.

The balance of petty cash is?

Q. The most common imprest system is the ___ system.

1. Petty Cash
2. Cash Book
3. Cash Receipt
4. Discount

Q.

A cash book that is used to record the small payments of cash is generally referred as ___.

1. Simple Cash Book

2. Two column cash book

3. Three column cash book

4. Petty cash book

Q.

The fundamental difference between the Main Cash Book and the Petty Cash Book is that only petty expenses are recorded in the Petty Cash Book. No receipt with the exception of money received from ___are recorded.

1. Customers

2. Debtors

3. Chief Cashier

4. Creditors

Q. What is petty cash book? Write the advantages of petty cash book.

Q.

What are various categories of expenses recorded in Petty Cash Book?

1. Stationery

2. Telephone & Telegraph

3. Conveyance

4. All of these

Q.

What kind of transactions are recorded in the petty cash book?

Q. Petty cash book records all expenses.

1. cash
2. petty cash
3. outstanding
4. prepaid

Q.

Is Cash Book a journal or a ledger?

Q.

The closing balance of petty cash book is considered as

1. Liability

2. Asset

3. Income

4. Expense

Q.

What is the other name for Columnar petty cash book?

Q.

From the following particulars what shall be balance c/d of the Petty Cash Book under Imprest system:
Jan. 1. Received from the Chief Cashier as imprest cash Rs 4000.
Jan. 2. Paid Taxi hire Rs 200.
Jan. 3. Paid postage Rs 280 and stationery Rs 60.
Jan. 7. Paid Rs 720 for repairs of typewriter.

1. Rs 4, 000

2. Rs 2, 740

3. Rs 3, 460

4. Rs 3, 740

Q.

The petty cash book ___.

1. Records cash received and paid

2. Records cheques paid and received

3. records petty cash receipts and petty cash expenses

4. None of these

Q. account is debited to record the issue of petty cash fund.

1. Cash
2. Petty cash
3. Bank
4. Expenses

Q.

What other type of petty cash book is there apart from a simple petty cash book?

Q.

The small amount of cash held on hand to pay minor expenses is known as:

1. Petty cash

2. Small cash fund

3. Money on hand

4. Cash

Q. Petty Cash should be used for:

1. Payroll expenses
2. Official business functions
3. Loans to employees
4. Expenses of a nominal amount

Q. Which of the following transactions should be entered in petty cash book?

1. Salary payments
2. Stock issued
3. Subscriptions
4. Travelling expenses

Q. What does the poet want us to do in the following situation?
(a) While struggling _______
(b) While making money ________
(c) While dreaming ________
(d) While losing _________

Q. The term "Imprest system" is used in relation to ____________.

1. Purchase book
2. Sales book
3. Cash book
4. Petty cash book

Q.

meant of imprest system of petty cash book

Q. Which of the following books should be used to record purchase of furniture on credit?

1. Purchases book
2. Journal proper
3. Sales book
4. Cash book

Q. A cash book that is used to record the small payments of cash is generally referred as .

1. Simple cash book
2. Two column cash book
3. Petty cash book
4. Compound cash book